Wall Street analysts expect that Myers Industries, Inc. (NYSE:MYE) will report sales of $136.37 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Myers Industries’ earnings. The highest sales estimate is $136.74 million and the lowest is $136.00 million. Myers Industries posted sales of $144.08 million during the same quarter last year, which would indicate a negative year over year growth rate of 5.4%. The company is scheduled to announce its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Myers Industries will report full year sales of $566.48 million for the current year, with estimates ranging from $565.65 million to $567.30 million. For the next year, analysts forecast that the firm will post sales of $577.44 million per share, with estimates ranging from $576.98 million to $577.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Myers Industries.
Myers Industries (NYSE:MYE) last issued its earnings results on Monday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $140.60 million for the quarter, compared to analysts’ expectations of $144.30 million. During the same quarter last year, the company posted $0.17 earnings per share. Myers Industries’s revenue was up 3.9% on a year-over-year basis.
A number of equities analysts have issued reports on the stock. ValuEngine raised 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 issued a “neutral” rating and a $21.00 target price on the stock. Zacks Investment Research cut shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Myers Industries in a research note on Wednesday, July 11th. They issued a “neutral” rating and a $22.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.60.
Several large investors have recently made changes to their positions in MYE. Piedmont Investment Advisors LLC acquired a new position in shares of Myers Industries during the second quarter valued at approximately $122,000. Barclays PLC increased its stake in shares of Myers Industries by 88.8% during the first quarter. Barclays PLC now owns 7,232 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 3,401 shares during the period. SG Americas Securities LLC acquired a new position in shares of Myers Industries during the second quarter valued at approximately $150,000. MetLife Investment Advisors LLC acquired a new position in shares of Myers Industries during the fourth quarter valued at approximately $208,000. Finally, Capstone Financial Advisors Inc. acquired a new position in shares of Myers Industries during the first quarter valued at approximately $273,000. Institutional investors own 75.46% of the company’s stock.
NYSE MYE traded down $0.15 during trading hours on Tuesday, reaching $21.70. The company’s stock had a trading volume of 108,503 shares, compared to its average volume of 164,320. The company has a quick ratio of 1.34, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. Myers Industries has a 52 week low of $17.10 and a 52 week high of $24.60. The stock has a market capitalization of $769.21 million, a P/E ratio of 42.55 and a beta of 1.60.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Friday, September 7th will be paid a $0.135 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.54 annualized dividend and a dividend yield of 2.49%. Myers Industries’s payout ratio is currently 105.88%.
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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