Wall Street analysts expect that Myers Industries, Inc. (NYSE:MYE) will report sales of $133.06 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Myers Industries’ earnings. The highest sales estimate is $134.57 million and the lowest is $131.70 million. Myers Industries posted sales of $135.22 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.6%. The firm is expected to issue its next earnings results on Tuesday, November 5th.
On average, analysts expect that Myers Industries will report full year sales of $546.93 million for the current fiscal year, with estimates ranging from $544.50 million to $550.31 million. For the next fiscal year, analysts expect that the business will report sales of $559.09 million, with estimates ranging from $555.70 million to $565.70 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Myers Industries.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $138.00 million. Myers Industries had a positive return on equity of 17.51% and a negative net margin of 0.99%. Myers Industries’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share.
MYE stock traded up $0.55 during mid-day trading on Friday, reaching $15.59. 107,400 shares of the company’s stock were exchanged, compared to its average volume of 121,690. The company has a market cap of $530.98 million, a price-to-earnings ratio of 20.51 and a beta of 1.62. The stock’s 50 day moving average is $17.45 and its 200 day moving average is $17.70. Myers Industries has a 12-month low of $14.24 and a 12-month high of $25.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.26 and a quick ratio of 1.77.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be given a $0.135 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.54 annualized dividend and a dividend yield of 3.46%. Myers Industries’s dividend payout ratio (DPR) is presently 71.05%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new position in shares of Myers Industries in the first quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new position in shares of Myers Industries in the second quarter valued at approximately $39,000. Aperio Group LLC purchased a new position in shares of Myers Industries in the second quarter valued at approximately $92,000. Bank of Montreal Can lifted its position in shares of Myers Industries by 118.4% in the second quarter. Bank of Montreal Can now owns 5,453 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 2,956 shares in the last quarter. Finally, Investors Research Corp purchased a new position in shares of Myers Industries in the first quarter valued at approximately $113,000. Institutional investors and hedge funds own 86.37% of the company’s stock.
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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