Equities analysts expect Myers Industries, Inc. (NYSE:MYE) to post sales of $138.52 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Myers Industries’ earnings, with estimates ranging from $132.75 million to $141.70 million. Myers Industries posted sales of $140.56 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.5%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, July 30th.
On average, analysts expect that Myers Industries will report full-year sales of $558.57 million for the current financial year, with estimates ranging from $552.47 million to $563.10 million. For the next financial year, analysts expect that the business will post sales of $571.46 million, with estimates ranging from $559.72 million to $584.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Myers Industries.
Myers Industries (NYSE:MYE) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Myers Industries had a positive return on equity of 16.67% and a negative net margin of 0.62%. The firm had revenue of $139.12 million for the quarter, compared to analysts’ expectations of $146.90 million. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year.
Separately, Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $20.00.
A number of large investors have recently added to or reduced their stakes in MYE. Royce & Associates LP purchased a new position in Myers Industries in the first quarter valued at about $29,000. Investors Research Corp purchased a new position in Myers Industries in the first quarter valued at about $113,000. BNP Paribas Arbitrage SA raised its position in Myers Industries by 1,004.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,324 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 6,661 shares during the period. Marshall Wace North America L.P. purchased a new position in Myers Industries in the first quarter valued at about $144,000. Finally, Paloma Partners Management Co purchased a new position in Myers Industries in the fourth quarter valued at about $169,000. 87.10% of the stock is currently owned by institutional investors.
Myers Industries stock traded up $0.19 during midday trading on Thursday, reaching $17.55. The stock had a trading volume of 86,687 shares, compared to its average volume of 107,279. Myers Industries has a twelve month low of $14.24 and a twelve month high of $25.70. The stock has a market capitalization of $619.16 million, a PE ratio of 23.09 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.61. The firm has a 50-day moving average price of $18.44.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.08%. The ex-dividend date was Thursday, June 13th. Myers Industries’s dividend payout ratio (DPR) is presently 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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