$142.15 Million in Sales Expected for Myers Industries, Inc. (NYSE:MYE) This Quarter
Wall Street brokerages expect Myers Industries, Inc. (NYSE:MYE) to post $142.15 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Myers Industries’ earnings, with estimates ranging from $142.00 million to $142.30 million. Myers Industries reported sales of $144.12 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The company is scheduled to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Myers Industries will report full-year sales of $142.15 million for the current year, with estimates ranging from $553.70 million to $558.00 million. For the next financial year, analysts forecast that the business will post sales of $560.20 million per share, with estimates ranging from $558.00 million to $562.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Myers Industries.
Myers Industries (NYSE:MYE) last released its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $141.70 million during the quarter, compared to the consensus estimate of $143.60 million. Myers Industries had a return on equity of 11.57% and a net margin of 1.38%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS.
Several brokerages recently issued reports on MYE. Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. TheStreet raised Myers Industries from a “c” rating to a “b-” rating in a research note on Monday, May 8th.
Myers Industries (NYSE:MYE) traded up 1.67% on Friday, hitting $18.30. The stock had a trading volume of 16,203 shares. Myers Industries has a one year low of $11.35 and a one year high of $19.45. The company has a market cap of $550.45 million, a PE ratio of 75.00 and a beta of 1.77. The stock has a 50-day moving average of $17.74 and a 200-day moving average of $15.56.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, June 14th. Myers Industries’s dividend payout ratio (DPR) is presently 225.00%.
In other news, Director Jane Scaccetti purchased 3,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was bought at an average cost of $17.20 per share, with a total value of $51,600.00. Following the purchase, the director now directly owns 12,090 shares of the company’s stock, valued at $207,948. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. American Century Companies Inc. purchased a new stake in Myers Industries during the first quarter worth $3,786,000. Wedge Capital Management L L P NC increased its stake in Myers Industries by 59.7% in the first quarter. Wedge Capital Management L L P NC now owns 89,900 shares of the industrial products company’s stock worth $1,425,000 after buying an additional 33,600 shares during the period. Wells Fargo & Company MN increased its stake in Myers Industries by 24.7% in the first quarter. Wells Fargo & Company MN now owns 49,489 shares of the industrial products company’s stock worth $784,000 after buying an additional 9,815 shares during the period. North Star Investment Management Corp. increased its stake in Myers Industries by 54.2% in the first quarter. North Star Investment Management Corp. now owns 156,462 shares of the industrial products company’s stock worth $2,480,000 after buying an additional 54,979 shares during the period. Finally, Hartford Investment Management Co. purchased a new stake in Myers Industries during the first quarter worth $167,000. 85.10% of the stock is owned by institutional investors.
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Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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