Wall Street analysts forecast that Myers Industries, Inc. (NYSE:MYE – Get Rating) will report earnings of $0.40 per share for the current quarter, Zacks reports. Two analysts have made estimates for Myers Industries’ earnings. Myers Industries posted earnings per share of $0.29 in the same quarter last year, which would indicate a positive year over year growth rate of 37.9%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Myers Industries will report full-year earnings of $1.62 per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of $1.90 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Myers Industries.
Myers Industries (NYSE:MYE – Get Rating) last released its earnings results on Thursday, May 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.22. The business had revenue of $225.49 million for the quarter, compared to analyst estimates of $204.21 million. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. During the same quarter in the prior year, the company posted $0.22 earnings per share.
In related news, Director Frederic Jack Liebau, Jr. purchased 5,000 shares of Myers Industries stock in a transaction that occurred on Tuesday, March 15th. The shares were acquired at an average price of $18.42 per share, with a total value of $92,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.97% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Myers Industries by 1.8% in the 1st quarter. Bank of America Corp DE now owns 206,893 shares of the industrial products company’s stock worth $4,468,000 after acquiring an additional 3,741 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Myers Industries during the 1st quarter valued at about $543,000. Jane Street Group LLC acquired a new position in Myers Industries during the 1st quarter valued at about $372,000. Goldman Sachs Group Inc. boosted its stake in Myers Industries by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,557 shares of the industrial products company’s stock valued at $1,114,000 after purchasing an additional 26,555 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Myers Industries by 32.8% during the 1st quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company’s stock worth $98,000 after buying an additional 1,109 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.
NYSE:MYE traded down $0.76 on Wednesday, hitting $24.58. The company’s stock had a trading volume of 1,877 shares, compared to its average volume of 166,708. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average of $22.54 and a two-hundred day moving average of $20.05. The firm has a market capitalization of $893.24 million, a P/E ratio of 20.67 and a beta of 1.40. Myers Industries has a one year low of $15.82 and a one year high of $25.55.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Friday, June 17th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Thursday, June 16th. Myers Industries’s dividend payout ratio is currently 45.38%.
Myers Industries Company Profile (Get Rating)
Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.
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