Brokerages expect Myers Industries, Inc. (NYSE:MYE) to announce $0.15 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Myers Industries’ earnings. Myers Industries reported earnings of $0.11 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 36.4%. The business is expected to issue its next earnings results on Tuesday, November 6th.
On average, analysts expect that Myers Industries will report full year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.82. For the next year, analysts anticipate that the firm will post earnings of $0.88 per share, with EPS estimates ranging from $0.84 to $0.94. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Myers Industries.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Monday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $140.60 million for the quarter, compared to the consensus estimate of $144.30 million. Myers Industries had a return on equity of 19.11% and a net margin of 0.08%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share.
A number of equities research analysts recently issued reports on the company. ValuEngine raised Myers Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 30th. Robert W. Baird assumed coverage on Myers Industries in a research report on Wednesday, July 11th. They set a “neutral” rating and a $21.00 price target on the stock. Zacks Investment Research downgraded Myers Industries from a “hold” rating to a “strong sell” rating in a research report on Wednesday. KeyCorp reissued a “sector weight” rating on shares of Myers Industries in a research report on Tuesday, August 28th. Finally, JPMorgan Chase & Co. assumed coverage on Myers Industries in a research report on Wednesday, July 11th. They set a “neutral” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Myers Industries presently has a consensus rating of “Hold” and an average target price of $21.80.
NYSE:MYE traded down $0.24 during trading hours on Friday, reaching $15.86. 191,151 shares of the company were exchanged, compared to its average volume of 172,178. The company has a market capitalization of $818.49 million, a P/E ratio of 31.10 and a beta of 1.57. Myers Industries has a 1-year low of $15.80 and a 1-year high of $25.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.34.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Friday, September 7th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Thursday, September 6th. Myers Industries’s dividend payout ratio is presently 105.88%.
Several hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Myers Industries by 31.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 2,462 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Myers Industries by 3.7% in the 2nd quarter. New York State Teachers Retirement System now owns 73,990 shares of the industrial products company’s stock valued at $1,421,000 after purchasing an additional 2,662 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Myers Industries by 20.0% in the 2nd quarter. Texas Permanent School Fund now owns 17,412 shares of the industrial products company’s stock valued at $334,000 after purchasing an additional 2,904 shares in the last quarter. Strs Ohio boosted its holdings in shares of Myers Industries by 9.7% in the 2nd quarter. Strs Ohio now owns 38,400 shares of the industrial products company’s stock valued at $737,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Myers Industries by 88.8% in the 1st quarter. Barclays PLC now owns 7,232 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 3,401 shares in the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.
Myers Industries Company Profile
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.
Featured Story: What is the 52-week high/low?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Myers Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries and related companies with MarketBeat.com's FREE daily email newsletter.