Wall Street brokerages expect Myers Industries, Inc. (NYSE:MYE) to post earnings of $0.07 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Myers Industries’ earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.05. Myers Industries reported earnings of $0.09 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 22.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, March 5th.
On average, analysts expect that Myers Industries will report full year earnings of $0.71 per share for the current year, with EPS estimates ranging from $0.69 to $0.73. For the next year, analysts expect that the business will report earnings of $0.81 per share, with EPS estimates ranging from $0.80 to $0.82. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Myers Industries.
A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of Myers Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, TheStreet downgraded shares of Myers Industries from a “b” rating to a “c-” rating in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.33.
NYSE:MYE opened at $16.06 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a market cap of $567.76 million, a price-to-earnings ratio of 31.49 and a beta of 1.71. Myers Industries has a fifty-two week low of $14.24 and a fifty-two week high of $25.70.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Myers Industries by 1.1% in the 4th quarter. BlackRock Inc. now owns 5,137,165 shares of the industrial products company’s stock valued at $77,622,000 after acquiring an additional 57,704 shares during the period. California Public Employees Retirement System raised its stake in shares of Myers Industries by 8.0% in the 4th quarter. California Public Employees Retirement System now owns 32,461 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 2,415 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Myers Industries by 2.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 34,825 shares of the industrial products company’s stock valued at $527,000 after acquiring an additional 908 shares during the period. First Trust Advisors LP raised its stake in shares of Myers Industries by 19.3% in the 4th quarter. First Trust Advisors LP now owns 63,801 shares of the industrial products company’s stock valued at $964,000 after acquiring an additional 10,331 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Myers Industries in the 4th quarter valued at $203,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Story: Why is the LIBOR significant?
Get a free copy of the Zacks research report on Myers Industries (MYE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Myers Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries and related companies with MarketBeat.com's FREE daily email newsletter.