Wall Street brokerages expect Myers Industries, Inc. (NYSE:MYE) to announce $143.15 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Myers Industries’ earnings, with the lowest sales estimate coming in at $135.00 million and the highest estimate coming in at $151.30 million. Myers Industries reported sales of $130.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The business is expected to report its next earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Myers Industries will report full-year sales of $143.15 million for the current fiscal year, with estimates ranging from $564.00 million to $579.40 million. For the next fiscal year, analysts forecast that the company will post sales of $589.35 million per share, with estimates ranging from $576.00 million to $602.70 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Myers Industries.
Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. Myers Industries had a return on equity of 12.93% and a net margin of 1.24%. The company had revenue of $144.10 million during the quarter, compared to analysts’ expectations of $138.93 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year.
Several equities analysts recently weighed in on MYE shares. Zacks Investment Research cut Myers Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. KeyCorp reissued a “sell” rating and set a $15.00 price objective on shares of Myers Industries in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.50.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. lifted its position in shares of Myers Industries by 14.3% during the 2nd quarter. Prudential Financial Inc. now owns 42,252 shares of the industrial products company’s stock worth $758,000 after purchasing an additional 5,270 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Myers Industries by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 16,031 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 216 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Myers Industries during the 2nd quarter worth about $1,104,000. Strs Ohio lifted its position in shares of Myers Industries by 78.9% during the 3rd quarter. Strs Ohio now owns 36,500 shares of the industrial products company’s stock worth $764,000 after purchasing an additional 16,100 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Myers Industries by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 1,400,774 shares of the industrial products company’s stock worth $22,202,000 after purchasing an additional 59,870 shares during the last quarter. 84.87% of the stock is owned by institutional investors and hedge funds.
Shares of Myers Industries (NYSE:MYE) traded down $0.35 during trading hours on Friday, hitting $19.75. The company’s stock had a trading volume of 72,831 shares, compared to its average volume of 59,869. Myers Industries has a 12 month low of $13.20 and a 12 month high of $22.65. The firm has a market capitalization of $601.15, a PE ratio of 48.17, a P/E/G ratio of 13.44 and a beta of 1.76. The company has a quick ratio of 1.06, a current ratio of 1.56 and a debt-to-equity ratio of 1.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.54 annualized dividend and a dividend yield of 2.73%. Myers Industries’s dividend payout ratio is presently 234.78%.
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About Myers Industries
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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