Miller Industries (NYSE:MLR) Posts Earnings Results, Misses Expectations By $0.11 EPS

Miller Industries (NYSE:MLR) announced its quarterly earnings results on Wednesday. The auto parts company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.11), FiscalAI reports. The company had revenue of $212.22 million for the quarter, compared to the consensus estimate of $246.15 million. Miller Industries had a net margin of 2.15% and a return on equity of 4.13%.

Miller Industries Trading Up 2.5%

MLR traded up $1.13 during trading on Friday, reaching $46.19. 113,236 shares of the company’s stock were exchanged, compared to its average volume of 80,943. Miller Industries has a one year low of $35.72 and a one year high of $59.70. The stock has a market capitalization of $524.33 million, a PE ratio of 30.79 and a beta of 1.13. The firm has a fifty day moving average price of $53.38 and a two-hundred day moving average price of $49.07.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, December 7th. Miller Industries’s payout ratio is presently 56.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MLR shares. DA Davidson dropped their price objective on shares of Miller Industries from $64.00 to $54.00 and set a “buy” rating for the company in a research note on Friday. Wall Street Zen downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a report on Monday, September 21st. Finally, Zacks Research upgraded Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $49.00.

Miller Industries Company Profile

Miller Industries, Inc designs, manufactures and sells towing and recovery equipment. Its product portfolio includes light-, medium- and heavy-duty tow trucks, vehicle carriers, wreckers, rotators, underlift systems and related equipment used to recover, transport and service disabled vehicles.

The company markets products under brands including Century, Vulcan, Chevron, Holmes and Champion. It also provides replacement parts and related support for its equipment. Miller Industries sells through a network of distributors and dealers to towing operators, transportation companies, government agencies and other commercial customers.

Headquartered in Ooltewah, Tennessee, Miller Industries serves customers in North America and international markets.