Wall Street brokerages forecast that Myers Industries, Inc. (NYSE:MYE) will report $0.25 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Myers Industries’ earnings. The highest EPS estimate is $0.27 and the lowest is $0.23. Myers Industries reported earnings of $0.27 per share during the same quarter last year, which would indicate a negative year over year growth rate of 7.4%. The business is expected to announce its next quarterly earnings report before the market opens on Monday, July 29th.
On average, analysts expect that Myers Industries will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.80 to $0.82. For the next financial year, analysts expect that the company will report earnings of $0.91 per share, with EPS estimates ranging from $0.90 to $0.93. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Myers Industries.
Myers Industries (NYSE:MYE) last released its earnings results on Wednesday, May 8th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm 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 period in the previous year, the company earned $0.24 earnings per share.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Myers Industries by 1.1% during the fourth quarter. BlackRock Inc. now owns 5,137,165 shares of the industrial products company’s stock worth $77,622,000 after acquiring an additional 57,704 shares during the period. Norges Bank acquired a new position in shares of Myers Industries in the 4th quarter valued at $10,933,000. Geode Capital Management LLC boosted its position in shares of Myers Industries by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 621,331 shares of the industrial products company’s stock valued at $9,388,000 after purchasing an additional 33,596 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Myers Industries by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 553,864 shares of the industrial products company’s stock valued at $8,369,000 after purchasing an additional 12,171 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Myers Industries by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 297,950 shares of the industrial products company’s stock valued at $4,502,000 after purchasing an additional 8,917 shares during the period. 87.10% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MYE opened at $17.46 on Tuesday. The business’s 50-day moving average price is $18.40. The firm has a market capitalization of $619.17 million, a price-to-earnings ratio of 22.38 and a beta of 1.65. Myers Industries has a 52-week low of $14.24 and a 52-week high of $25.70. The company has a current ratio of 2.10, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Friday, June 14th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Thursday, June 13th. Myers Industries’s payout ratio is currently 71.05%.
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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