Myers Industries, Inc. (NYSE:MYE) Receives Consensus Rating of “Sell” from Analysts
Shares of Myers Industries, Inc. (NYSE:MYE) have been given a consensus broker rating score of 4.00 (Sell) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and one has issued a hold rating on the company.
Brokers have set a 12-month consensus target price of $16.50 for the company and are expecting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Myers Industries an industry rank of 41 out of 265 based on the ratings given to its competitors.
MYE has been the topic of several research reports. TheStreet raised Myers Industries from a “c” rating to a “b-” rating in a report on Monday, May 8th. Zacks Investment Research upgraded Myers Industries from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday. KeyCorp reiterated a “sell” rating on shares of Myers Industries in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded Myers Industries from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.
In related news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $18.44, for a total value of $55,320.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC boosted its position in shares of Myers Industries by 0.8% in the first quarter. Gabelli Funds LLC now owns 1,550,876 shares of the industrial products company’s stock valued at $24,581,000 after buying an additional 12,464 shares during the period. Vanguard Group Inc. boosted its position in shares of Myers Industries by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,400,774 shares of the industrial products company’s stock worth $22,202,000 after buying an additional 59,870 shares during the last quarter. Teton Advisors Inc. boosted its position in shares of Myers Industries by 0.8% in the first quarter. Teton Advisors Inc. now owns 612,900 shares of the industrial products company’s stock worth $9,714,000 after buying an additional 5,000 shares during the last quarter. State Street Corp boosted its position in shares of Myers Industries by 4.7% in the fourth quarter. State Street Corp now owns 498,762 shares of the industrial products company’s stock worth $7,130,000 after buying an additional 22,327 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Myers Industries by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 462,822 shares of the industrial products company’s stock worth $7,335,000 after buying an additional 24,697 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.
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Shares of Myers Industries (NYSE:MYE) traded up 9.97% during midday trading on Tuesday, hitting $17.65. 152,171 shares of the stock were exchanged. The company has a market cap of $532.22 million, a price-to-earnings ratio of 132.71 and a beta of 1.76. The firm has a 50 day moving average of $18.05 and a 200-day moving average of $16.19. Myers Industries has a one year low of $11.35 and a one year high of $19.45.
Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Myers Industries had a return on equity of 10.71% and a net margin of 0.74%. The firm had revenue of $142.30 million for the quarter, compared to analyst estimates of $142.95 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. Myers Industries’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Myers Industries will post $0.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, September 7th. Myers Industries’s dividend payout ratio is presently 415.38%.
About Myers Industries
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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