Equities analysts expect that Myers Industries, Inc. (NYSE:MYE) will announce earnings per share (EPS) of $0.19 for the current quarter, Zacks reports. Three analysts have issued estimates for Myers Industries’ earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.23. Myers Industries reported earnings per share of $0.27 in the same quarter last year, which would suggest a negative year-over-year growth rate of 29.6%. The business is expected to issue its next earnings report on Tuesday, August 4th.
On average, analysts expect that Myers Industries will report full year earnings of $0.59 per share for the current fiscal year, with EPS estimates ranging from $0.52 to $0.64. For the next year, analysts forecast that the company will post earnings of $0.68 per share, with EPS estimates ranging from $0.54 to $0.76. Zacks’ EPS averages are an average based on a survey of analysts that cover Myers Industries.
Myers Industries (NYSE:MYE) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $122.30 million for the quarter, compared to analyst estimates of $143.00 million. Myers Industries had a net margin of 6.87% and a return on equity of 16.32%. Myers Industries’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share.
MYE traded up $0.70 on Tuesday, hitting $14.32. 139,500 shares of the company’s stock were exchanged, compared to its average volume of 181,848. The firm has a market cap of $487.16 million, a PE ratio of 14.92 and a beta of 1.48. Myers Industries has a twelve month low of $6.91 and a twelve month high of $19.55. The stock has a fifty day moving average of $13.49 and a two-hundred day moving average of $13.91. The company has a current ratio of 1.59, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $0.135 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.54 annualized dividend and a dividend yield of 3.77%. Myers Industries’s payout ratio is currently 69.23%.
In related news, CEO Michael P. Mcgaugh acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $12.14 per share, for a total transaction of $303,500.00. Following the completion of the purchase, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $607,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 27,500 shares of company stock worth $333,415 in the last quarter. Company insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Myers Industries by 7.6% during the first quarter. State Street Corp now owns 1,146,544 shares of the industrial products company’s stock valued at $12,477,000 after acquiring an additional 80,518 shares during the period. AQR Capital Management LLC increased its stake in shares of Myers Industries by 89.2% during the first quarter. AQR Capital Management LLC now owns 29,758 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 14,027 shares during the period. Invesco Ltd. increased its stake in shares of Myers Industries by 11.4% during the first quarter. Invesco Ltd. now owns 209,805 shares of the industrial products company’s stock valued at $2,256,000 after acquiring an additional 21,547 shares during the period. Two Sigma Advisers LP increased its stake in shares of Myers Industries by 68.7% during the first quarter. Two Sigma Advisers LP now owns 122,821 shares of the industrial products company’s stock valued at $1,320,000 after acquiring an additional 50,000 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Myers Industries by 0.5% during the first quarter. Thrivent Financial for Lutherans now owns 279,126 shares of the industrial products company’s stock valued at $3,001,000 after acquiring an additional 1,486 shares during the period. Institutional investors and hedge funds own 89.36% 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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