Shares of Myers Industries, Inc. (NYSE:MYE) have earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $22.33.
Several equities research analysts have recently issued reports on MYE shares. TheStreet lowered shares of Myers Industries from a “b” rating to a “c-” rating in a research note on Thursday, November 8th. ValuEngine lowered shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Cowen started coverage on shares of Myers Industries in a research note on Friday, September 28th. They set a “market perform” rating for the company. KeyCorp restated a “sector weight” rating on shares of Myers Industries in a research note on Tuesday, August 28th. Finally, Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research note on Wednesday, September 12th.
Shares of MYE stock opened at $16.23 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Myers Industries has a 12-month low of $15.25 and a 12-month high of $25.70. The company has a market cap of $569.53 million, a PE ratio of 31.82 and a beta of 1.98.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The company had revenue of $135.22 million during the quarter, compared to analyst estimates of $135.08 million. During the same quarter last year, the business posted $0.11 EPS. Myers Industries’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts forecast that Myers Industries will post 0.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 7th will be paid a dividend of $0.135 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.54 annualized dividend and a dividend yield of 3.33%. Myers Industries’s payout ratio is currently 105.88%.
Several hedge funds have recently modified their holdings of MYE. Principal Financial Group Inc. boosted its holdings in Myers Industries by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 169,140 shares of the industrial products company’s stock worth $3,577,000 after buying an additional 3,624 shares during the period. Texas Permanent School Fund boosted its holdings in 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 worth $334,000 after buying an additional 2,904 shares during the period. Acadian Asset Management LLC bought a new position in Myers Industries in the 2nd quarter worth approximately $500,000. Piedmont Investment Advisors LLC bought a new position in Myers Industries in the 2nd quarter worth approximately $122,000. Finally, TD Asset Management Inc. bought a new position in Myers Industries in the 2nd quarter worth approximately $879,000. Institutional investors own 88.45% of the company’s stock.
About Myers Industries
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.
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