Equities analysts expect Myers Industries, Inc. (NYSE:MYE) to post earnings of $0.22 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Myers Industries’ earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.20. Myers Industries posted earnings per share of $0.11 in the same quarter last year, which would indicate a positive year over year growth rate of 100%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Myers Industries will report full-year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.84 to $0.91. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.98 per share, with EPS estimates ranging from $0.92 to $1.01. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Myers Industries.
Myers Industries (NYSE:MYE) last released its quarterly earnings results on Monday, July 30th. The industrial products company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Myers Industries had a net margin of 0.08% and a return on equity of 19.11%. The business had revenue of $140.60 million for the quarter, compared to analysts’ expectations of $144.30 million. During the same period last year, the business earned $0.17 EPS. The company’s revenue was up 3.9% compared to the same quarter last year.
MYE has been the topic of a number of recent analyst reports. KeyCorp restated a “sector weight” rating on shares of Myers Industries in a report on Tuesday, August 28th. ValuEngine upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. JPMorgan Chase & Co. initiated coverage on shares of Myers Industries in a report on Wednesday, July 11th. They issued a “neutral” rating and a $22.00 price target on the stock. Cowen initiated coverage on shares of Myers Industries in a report on Friday. They issued a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a report on Wednesday, September 12th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Myers Industries presently has a consensus rating of “Buy” and an average target price of $21.80.
Shares of NYSE:MYE traded down $0.01 during trading on Tuesday, reaching $22.75. The stock had a trading volume of 137,000 shares, compared to its average volume of 165,465. Myers Industries has a one year low of $17.70 and a one year high of $25.70. The stock has a market capitalization of $818.49 million, a P/E ratio of 44.25 and a beta of 1.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 1.90.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Friday, September 7th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, September 6th. Myers Industries’s dividend payout ratio (DPR) is presently 105.88%.
Hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new stake in Myers Industries in the 2nd quarter worth approximately $122,000. Barclays PLC boosted its stake in Myers Industries by 88.8% in the 1st quarter. Barclays PLC now owns 7,232 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 3,401 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Myers Industries in the 2nd quarter worth approximately $150,000. Metropolitan Life Insurance Co. NY boosted its stake in Myers Industries by 31.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 2,462 shares in the last quarter. Finally, Capstone Financial Advisors Inc. acquired a new stake in Myers Industries in the 1st quarter worth approximately $273,000. Institutional investors own 86.74% of the company’s stock.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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