Equities research analysts predict that Myers Industries, Inc. (NYSE:MYE) will post sales of $141.40 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Myers Industries’ earnings, with estimates ranging from $140.00 million to $142.80 million. Myers Industries posted sales of $132.68 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, November 7th.

On average, analysts expect that Myers Industries will report full year sales of $141.40 million for the current year, with estimates ranging from $558.00 million to $576.90 million. For the next year, analysts anticipate that the business will post sales of $577.80 million per share, with estimates ranging from $558.00 million to $597.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Myers Industries.

Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $142.30 million during the quarter, compared to the consensus estimate of $142.95 million. Myers Industries had a return on equity of 10.71% and a net margin of 0.74%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share.

MYE has been the subject of a number of research analyst reports. Zacks Investment Research lowered Myers Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. KeyCorp reiterated a “sell” rating on shares of Myers Industries in a report on Tuesday, August 1st. Finally, BidaskClub downgraded Myers Industries from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.50.

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Myers Industries (NYSE:MYE) opened at 21.60 on Wednesday. The company has a market cap of $653.51 million, a P/E ratio of 162.41 and a beta of 1.78. The company’s 50 day moving average price is $21.07 and its 200-day moving average price is $18.52. Myers Industries has a one year low of $11.35 and a one year high of $22.65.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 8th were issued a $0.135 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.54 annualized dividend and a dividend yield of 2.50%. Myers Industries’s dividend payout ratio (DPR) is presently 415.38%.

Several hedge funds have recently modified their holdings of the company. KBC Group NV raised its holdings in Myers Industries by 183.5% in the 2nd quarter. KBC Group NV now owns 5,695 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 3,686 shares during the period. Thompson Davis & CO. Inc. raised its holdings in Myers Industries by 44.4% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 5,656 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 1,738 shares during the period. Acrospire Investment Management LLC acquired a new position in Myers Industries in the 2nd quarter worth about $136,000. BNP Paribas Arbitrage SA raised its holdings in Myers Industries by 99.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,637 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 4,315 shares during the period. Finally, Arizona State Retirement System raised its holdings in Myers Industries by 0.9% in the 1st quarter. Arizona State Retirement System now owns 11,386 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 100 shares during the period. 85.08% of the stock is owned by institutional investors and hedge funds.

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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