Wall Street brokerages predict that Myers Industries, Inc. (NYSE:MYE) will report $0.23 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Myers Industries’ earnings. The highest EPS estimate is $0.25 and the lowest is $0.20. Myers Industries reported earnings per share of $0.11 during the same quarter last year, which suggests a positive year-over-year growth rate of 109.1%. The business is expected to issue its next quarterly earnings results on Tuesday, November 6th.
On average, analysts expect that Myers Industries will report full year earnings of $0.88 per share for the current fiscal year, with EPS estimates ranging from $0.84 to $0.91. For the next year, analysts anticipate that the company will report earnings of $0.97 per share, with EPS estimates ranging from $0.92 to $1.01. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Myers Industries.
Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Monday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Myers Industries had a net margin of 0.08% and a return on equity of 19.11%. The company had revenue of $140.60 million for the quarter, compared to the consensus estimate of $144.30 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue was up 3.9% compared to the same quarter last year.
Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a report on Monday, July 30th. Robert W. Baird assumed coverage on shares of Myers Industries in a report on Wednesday, July 11th. They set a “neutral” rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Myers Industries in a report on Wednesday, July 11th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.60.
Shares of Myers Industries traded down $0.15, hitting $21.70, on Friday, Marketbeat reports. 108,503 shares of the company were exchanged, compared to its average volume of 164,320. Myers Industries has a one year low of $17.10 and a one year high of $24.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 1.90. The company has a market cap of $769.21 million, a price-to-earnings ratio of 42.55 and a beta of 1.60.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Friday, September 7th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.54 dividend on an annualized basis and a yield of 2.49%. Myers Industries’s payout ratio is currently 105.88%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in shares of Myers Industries by 29.7% during the fourth quarter. Wells Fargo & Company MN now owns 48,284 shares of the industrial products company’s stock worth $942,000 after acquiring an additional 11,057 shares in the last quarter. Geode Capital Management LLC grew its position in Myers Industries by 11.7% in the fourth quarter. Geode Capital Management LLC now owns 223,308 shares of the industrial products company’s stock valued at $4,353,000 after purchasing an additional 23,428 shares in the last quarter. Renaissance Technologies LLC grew its position in Myers Industries by 42.6% in the fourth quarter. Renaissance Technologies LLC now owns 384,600 shares of the industrial products company’s stock valued at $7,500,000 after purchasing an additional 114,800 shares in the last quarter. Deutsche Bank AG grew its position in Myers Industries by 83.7% in the fourth quarter. Deutsche Bank AG now owns 68,226 shares of the industrial products company’s stock valued at $1,329,000 after purchasing an additional 31,085 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Myers Industries by 70.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 123,507 shares of the industrial products company’s stock valued at $2,409,000 after purchasing an additional 50,838 shares in the last quarter. 75.46% of the stock is currently owned by institutional investors and hedge funds.
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.
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