Wall Street brokerages expect that Myers Industries, Inc. (NYSE:MYE) will report earnings per share (EPS) of $0.14 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Myers Industries’ earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.15. Myers Industries posted earnings per share of $0.15 during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.7%. The business is expected to announce its next earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Myers Industries will report full-year earnings of $0.80 per share for the current fiscal year, with EPS estimates ranging from $0.78 to $0.82. For the next year, analysts forecast that the firm will report earnings of $0.90 per share, with EPS estimates ranging from $0.88 to $0.93. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Myers Industries.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Myers Industries had a negative net margin of 0.99% and a positive return on equity of 17.51%. The company had revenue of $134.30 million during the quarter, compared to analyst estimates of $138.00 million. During the same quarter last year, the business posted $0.27 EPS. Myers Industries’s quarterly revenue was down 4.5% compared to the same quarter last year.
Separately, Zacks Investment Research lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $20.00.
Shares of MYE stock traded up $0.08 during trading hours on Thursday, hitting $15.04. 90,300 shares of the company were exchanged, compared to its average volume of 109,297. The company’s fifty day moving average price is $17.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.26 and a quick ratio of 1.77. Myers Industries has a 52-week low of $14.24 and a 52-week high of $25.70. The firm has a market cap of $532.35 million, a PE ratio of 19.80 and a beta of 1.62.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, August 30th. This represents a $0.54 annualized dividend and a dividend yield of 3.59%. Myers Industries’s payout ratio is currently 71.05%.
Hedge funds have recently modified their holdings of the company. Royce & Associates LP bought a new position in Myers Industries in the 1st quarter worth approximately $29,000. Trust Co. of Vermont bought a new position in Myers Industries in the 2nd quarter worth approximately $39,000. Aperio Group LLC bought a new position in Myers Industries in the 2nd quarter worth approximately $92,000. Bank of Montreal Can boosted its holdings in Myers Industries by 118.4% in the 2nd quarter. Bank of Montreal Can now owns 5,453 shares of the industrial products company’s stock worth $105,000 after buying an additional 2,956 shares during the period. Finally, Investors Research Corp bought a new position in Myers Industries in the 1st quarter worth approximately $113,000. Institutional investors own 86.37% 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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