Myers Industries, Inc. (MYE) Receives Average Rating of “Hold” from Analysts

Myers Industries, Inc. (NYSE:MYE) has received a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.50.

Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. KeyCorp reiterated a “sell” rating and issued a $15.00 price objective on shares of Myers Industries in a research note on Tuesday, November 7th. Finally, Wells Fargo & Co upgraded shares of Myers Industries from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Wednesday, January 3rd.

Shares of Myers Industries (NYSE MYE) opened at $21.50 on Friday. The company has a market cap of $650.48, a PE ratio of 93.48, a P/E/G ratio of 11.04 and a beta of 1.76. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.06 and a current ratio of 1.56. Myers Industries has a twelve month low of $13.20 and a twelve month high of $22.65.

Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. The business had revenue of $144.10 million during the quarter, compared to the consensus estimate of $138.93 million. During the same quarter in the previous year, the firm posted $0.04 EPS. Myers Industries’s revenue was up 8.6% compared to the same quarter last year. analysts forecast that Myers Industries will post 0.49 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, November 30th. Myers Industries’s dividend payout ratio (DPR) is 234.78%.

A number of institutional investors have recently modified their holdings of MYE. Public Employees Retirement System of Ohio acquired a new stake in Myers Industries in the 3rd quarter worth about $107,000. Cornerstone Capital Management Holdings LLC. raised its stake in Myers Industries by 124.4% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 9,200 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 5,100 shares in the last quarter. KBC Group NV raised its stake in Myers Industries by 83.6% in the 3rd quarter. KBC Group NV now owns 10,454 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 4,759 shares in the last quarter. Voya Investment Management LLC raised its stake in Myers Industries by 13.9% in the 2nd quarter. Voya Investment Management LLC now owns 13,731 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 1,674 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Myers Industries by 41.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,176 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 3,539 shares in the last quarter. Institutional investors and hedge funds own 85.45% of the company’s stock.

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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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