Myers Industries (NYSE:MYE) Releases Quarterly Earnings Results

Myers Industries (NYSE:MYE) released its quarterly earnings results on Monday. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04), Zacks reports. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. The business had revenue of $205.07 million during the quarter. During the same quarter in the previous year, the company earned $0.38 EPS. Myers Industries updated its FY 2024 guidance to 0.920-1.020 EPS.

Myers Industries Price Performance

Shares of NYSE:MYE opened at $11.39 on Wednesday. The company has a market cap of $423.94 million, a P/E ratio of 10.85 and a beta of 1.23. The business has a fifty day simple moving average of $13.33 and a 200-day simple moving average of $14.83. Myers Industries has a 52 week low of $10.77 and a 52 week high of $23.63. The company has a quick ratio of 1.16, a current ratio of 1.81 and a debt-to-equity ratio of 1.32.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is presently 51.43%.

Wall Street Analyst Weigh In

Separately, KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday.

About Myers Industries

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.