Myers Industries (NYSE:MYE) Releases FY 2019 Earnings Guidance

Myers Industries (NYSE:MYE) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $0.75-0.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.79. Myers Industries also updated its FY19 guidance to $0.75 to $0.85 EPS.

Separately, Zacks Investment Research upgraded Myers Industries from a sell rating to a hold rating in a report on Saturday, March 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $21.00.

NYSE:MYE opened at $16.92 on Friday. The stock has a market capitalization of $606.04 million, a price-to-earnings ratio of 21.91 and a beta of 1.69. The company has a current ratio of 2.10, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. Myers Industries has a 1-year low of $14.24 and a 1-year high of $25.70.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $139.12 million for the quarter, compared to analyst estimates of $146.90 million. Myers Industries had a positive return on equity of 16.67% and a negative net margin of 0.62%. Myers Industries’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Research analysts anticipate that Myers Industries will post 0.81 EPS for the current year.

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

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