Equities research analysts forecast that Myers Industries, Inc. (NYSE:MYE) will post $129.43 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Myers Industries’ earnings, with estimates ranging from $127.20 million to $130.70 million. Myers Industries reported sales of $138.39 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6.5%. The business is scheduled to issue its next earnings results on Thursday, February 27th.
According to Zacks, analysts expect that Myers Industries will report full year sales of $526.60 million for the current year, with estimates ranging from $521.30 million to $529.60 million. For the next year, analysts forecast that the company will post sales of $544.01 million, with estimates ranging from $534.13 million to $548.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Myers Industries.
Myers Industries (NYSE:MYE) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $125.48 million for the quarter, compared to analyst estimates of $134.90 million. Myers Industries had a net margin of 3.90% and a return on equity of 17.53%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share.
In related news, Director Ronald M. Defeo bought 10,000 shares of Myers Industries stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $16.25 per share, for a total transaction of $162,500.00. Following the completion of the transaction, the director now owns 11,570 shares of the company’s stock, valued at $188,012.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in Myers Industries in the third quarter valued at $42,000. Bank of Montreal Can increased its holdings in Myers Industries by 118.4% in the 2nd quarter. Bank of Montreal Can now owns 5,453 shares of the industrial products company’s stock worth $105,000 after buying an additional 2,956 shares in the last quarter. SG Americas Securities LLC bought a new stake in Myers Industries in the 3rd quarter worth about $110,000. Russell Investments Group Ltd. bought a new stake in Myers Industries in the 3rd quarter worth about $205,000. Finally, Chicago Equity Partners LLC increased its holdings in Myers Industries by 5.8% in the 3rd quarter. Chicago Equity Partners LLC now owns 13,030 shares of the industrial products company’s stock worth $230,000 after buying an additional 720 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.
NYSE:MYE traded up $0.13 on Thursday, reaching $17.01. The stock had a trading volume of 190,087 shares, compared to its average volume of 137,405. The company has a market capitalization of $599.58 million, a P/E ratio of 21.64 and a beta of 1.56. Myers Industries has a 1-year low of $14.84 and a 1-year high of $19.55. The company has a quick ratio of 1.61, a current ratio of 2.10 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $16.73 and a 200-day moving average price of $16.86.
The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were given a dividend of $0.135 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.17%. Myers Industries’s payout ratio is 71.05%.
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.
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