Myers Industries (NYSE:MYE) Issues Earnings Results

Myers Industries (NYSE:MYE) released its quarterly earnings results on Monday. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04), Zacks reports. Myers Industries had a net margin of 1.88% and a return on equity of 14.53%. The firm had revenue of $205.07 million for the quarter. During the same quarter last year, the firm earned $0.38 earnings per share. Myers Industries updated its FY 2024 guidance to 0.920-1.020 EPS.

Myers Industries Price Performance

Shares of Myers Industries stock opened at $12.21 on Thursday. The stock has a market cap of $454.48 million, a P/E ratio of 29.07 and a beta of 1.23. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81. The stock’s fifty day moving average is $13.27 and its 200 day moving average is $14.82. Myers Industries has a one year low of $10.77 and a one year high of $23.63.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.42%. Myers Industries’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday.

Myers Industries Company Profile

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.