Analysts expect Myers Industries, Inc. (NYSE:MYE – Get Rating) to announce $217.54 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Myers Industries’ earnings, with the highest sales estimate coming in at $219.80 million and the lowest estimate coming in at $215.28 million. Myers Industries posted sales of $187.37 million during the same quarter last year, which suggests a positive year over year growth rate of 16.1%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Myers Industries will report full-year sales of $873.05 million for the current financial year, with estimates ranging from $869.40 million to $876.70 million. For the next year, analysts anticipate that the business will report sales of $924.44 million, with estimates ranging from $917.28 million to $931.60 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Myers Industries.
Myers Industries (NYSE:MYE – Get Rating) last posted its earnings results on Thursday, May 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.22. The firm had revenue of $225.49 million for the quarter, compared to analyst estimates of $204.21 million. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. During the same quarter in the prior year, the company earned $0.22 EPS.
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A number of analysts have commented on the company. Zacks Investment Research upgraded Myers Industries from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Wednesday, May 4th. StockNews.com lowered Myers Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.
NYSE:MYE opened at $22.75 on Friday. The stock’s 50 day moving average price is $21.37 and its 200 day moving average price is $19.74. The company has a market capitalization of $826.83 million, a PE ratio of 19.72 and a beta of 1.41. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.45. Myers Industries has a 52-week low of $15.82 and a 52-week high of $25.10.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 4th. Investors of record on Thursday, March 17th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Wednesday, March 16th. Myers Industries’s dividend payout ratio is currently 45.38%.
In related news, Director Frederic Jack Liebau, Jr. acquired 5,000 shares of the stock in a transaction on Tuesday, March 15th. The stock was purchased at an average price of $18.42 per share, for a total transaction of $92,100.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.97% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP raised its position in shares of Myers Industries by 1.0% in the 1st quarter. First Trust Advisors LP now owns 64,443 shares of the industrial products company’s stock worth $1,103,000 after acquiring an additional 642 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Myers Industries by 0.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 147,820 shares of the industrial products company’s stock worth $2,958,000 after acquiring an additional 700 shares during the last quarter. Voya Investment Management LLC grew its holdings in Myers Industries by 4.9% during the third quarter. Voya Investment Management LLC now owns 15,592 shares of the industrial products company’s stock worth $305,000 after buying an additional 728 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Myers Industries by 2.5% in the first quarter. Great West Life Assurance Co. Can now owns 32,084 shares of the industrial products company’s stock valued at $710,000 after purchasing an additional 787 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Myers Industries by 4.2% during the 3rd quarter. Deutsche Bank AG now owns 23,009 shares of the industrial products company’s stock worth $450,000 after buying an additional 927 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.
Myers Industries Company Profile (Get Rating)
Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.
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