Equities research analysts expect Myers Industries, Inc. (NYSE:MYE) to post earnings per share of $0.12 for the current quarter, according to Zacks. Three analysts have issued estimates for Myers Industries’ earnings, with the highest EPS estimate coming in at $0.13 and the lowest estimate coming in at $0.10. Myers Industries posted earnings of $0.13 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 7.7%. The firm is expected to issue its next quarterly earnings results on Thursday, February 27th.
According to Zacks, analysts expect that Myers Industries will report full year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.75 to $0.78. For the next year, analysts expect that the business will post earnings of $0.86 per share, with EPS estimates ranging from $0.83 to $0.88. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Myers Industries.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $125.48 million for the quarter, compared to analyst estimates of $134.90 million. Myers Industries had a return on equity of 17.53% and a net margin of 3.90%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Myers Industries from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised Myers Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th.
Shares of NYSE:MYE traded up $0.13 during trading on Tuesday, reaching $17.01. The stock had a trading volume of 190,087 shares, compared to its average volume of 137,405. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 2.10. The business has a fifty day moving average price of $16.73 and a 200-day moving average price of $16.86. The stock has a market cap of $599.58 million, a PE ratio of 21.64 and a beta of 1.56. Myers Industries has a 1-year low of $14.84 and a 1-year high of $19.55.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given a dividend of $0.135 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.54 dividend on an annualized basis and a yield of 3.17%. Myers Industries’s payout ratio is 71.05%.
In related news, Director Ronald M. Defeo acquired 10,000 shares of Myers Industries stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $16.25 per share, for a total transaction of $162,500.00. Following the completion of the transaction, the director now owns 11,570 shares in the company, valued at approximately $188,012.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MYE. First Trust Advisors LP lifted its stake in shares of Myers Industries by 1.0% during the 1st quarter. First Trust Advisors LP now owns 64,443 shares of the industrial products company’s stock worth $1,103,000 after purchasing an additional 642 shares during the period. California State Teachers Retirement System raised its position in shares of Myers Industries by 1.2% during the third quarter. California State Teachers Retirement System now owns 55,278 shares of the industrial products company’s stock valued at $976,000 after buying an additional 660 shares during the last quarter. Chicago Equity Partners LLC raised its position in shares of Myers Industries by 5.8% during the third quarter. Chicago Equity Partners LLC now owns 13,030 shares of the industrial products company’s stock valued at $230,000 after buying an additional 720 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Myers Industries by 1.6% during the third quarter. Moors & Cabot Inc. now owns 47,206 shares of the industrial products company’s stock valued at $829,000 after buying an additional 761 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Myers Industries by 2.2% during the second quarter. Prudential Financial Inc. now owns 63,739 shares of the industrial products company’s stock valued at $1,228,000 after buying an additional 1,360 shares during the last quarter. Hedge funds and other institutional investors own 87.17% 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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