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Brokerages Expect Myers Industries, Inc. (NYSE:MYE) Will Post Earnings of $0.13 Per Share

Wall Street brokerages expect that Myers Industries, Inc. (NYSE:MYE) will post $0.13 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Myers Industries’ earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.13. Myers Industries posted earnings of $0.15 per share in the same quarter last year, which would suggest a negative year over year growth rate of 13.3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that Myers Industries will report full year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.68 to $0.72. For the next financial year, analysts forecast that the business will report earnings of $0.80 per share, with EPS estimates ranging from $0.76 to $0.83. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Myers Industries.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.10. The business had revenue of $118.39 million for the quarter, compared to the consensus estimate of $107.60 million. Myers Industries had a return on equity of 15.04% and a net margin of 7.46%.

Several research analysts have recently weighed in on MYE shares. Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, August 5th. Robert W. Baird decreased their price objective on shares of Myers Industries from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th.

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Several hedge funds have recently made changes to their positions in MYE. First Trust Advisors LP increased its holdings 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 buying an additional 642 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Myers Industries by 2.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 35,619 shares of the industrial products company’s stock worth $517,000 after buying an additional 737 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Myers Industries by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 97,966 shares of the industrial products company’s stock worth $1,425,000 after buying an additional 832 shares during the last quarter. Swiss National Bank increased its holdings in shares of Myers Industries by 1.5% in the 1st quarter. Swiss National Bank now owns 62,000 shares of the industrial products company’s stock worth $667,000 after buying an additional 900 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of Myers Industries by 3.9% in the 2nd quarter. American International Group Inc. now owns 25,345 shares of the industrial products company’s stock worth $369,000 after buying an additional 941 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Shares of MYE stock traded up $0.01 during trading hours on Friday, reaching $15.60. The company’s stock had a trading volume of 71,500 shares, compared to its average volume of 103,348. The firm’s 50 day simple moving average is $15.34 and its 200-day simple moving average is $13.45. The company has a market capitalization of $558.40 million, a price-to-earnings ratio of 15.45 and a beta of 1.53. Myers Industries has a fifty-two week low of $6.91 and a fifty-two week high of $18.47. The company has a quick ratio of 1.24, a current ratio of 1.65 and a debt-to-equity ratio of 0.23.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.54 annualized dividend and a dividend yield of 3.46%. Myers Industries’s payout ratio is 69.23%.

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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Earnings History and Estimates for Myers Industries (NYSE:MYE)

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