Equities analysts expect that Myers Industries, Inc. (NYSE:MYE) will announce $142.15 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Myers Industries’ earnings, with the highest sales estimate coming in at $142.3 million and the lowest estimate coming in at $142 million. Myers Industries posted sales of $144.12 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 2nd.

According to Zacks, analysts expect that Myers Industries will report full-year sales of $142.15 million for the current fiscal year, with estimates ranging from $553.7 million to $558 million. For the next fiscal year, analysts anticipate that the business will report sales of $560.2 million per share, with estimates ranging from $558 million to $562.4 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Myers Industries.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Myers Industries had a net margin of 0.48% and a return on equity of 15.52%. The firm had revenue of $141.70 million during the quarter, compared to analyst estimates of $143.60 million. During the same quarter last year, the business earned $0.21 EPS. The company’s revenue was down 6.3% compared to the same quarter last year.

A number of analysts have issued reports on the company. TheStreet raised Myers Industries from a “c” rating to a “b-” rating in a research note on Monday, May 8th. Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, Sidoti assumed coverage on Myers Industries in a research note on Tuesday, February 14th. They issued a “buy” rating on the stock.

COPYRIGHT VIOLATION WARNING: “$142.15 Million in Sales Expected for Myers Industries, Inc. (MYE) This Quarter” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/06/19/142-15-million-in-sales-expected-for-myers-industries-inc-mye-this-quarter-updated-updated-updated-updated.html.

In other news, Director Jane Scaccetti acquired 3,000 shares of Myers Industries stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $17.20 per share, with a total value of $51,600.00. Following the purchase, the director now directly owns 12,090 shares in the company, valued at approximately $207,948. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 2,300 shares of company stock worth $35,981. Corporate insiders own 3.29% of the company’s stock.

Several institutional investors have recently made changes to their positions in MYE. Goldman Sachs Group Inc. boosted its position in shares of Myers Industries by 67.2% in the first quarter. Goldman Sachs Group Inc. now owns 91,419 shares of the industrial products company’s stock worth $1,449,000 after buying an additional 36,748 shares during the period. Bank of America Corp DE boosted its position in shares of Myers Industries by 75.3% in the first quarter. Bank of America Corp DE now owns 41,521 shares of the industrial products company’s stock worth $658,000 after buying an additional 17,833 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Myers Industries by 5.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 88,319 shares of the industrial products company’s stock worth $1,400,000 after buying an additional 4,617 shares during the period. Renaissance Technologies LLC boosted its position in shares of Myers Industries by 7.0% in the first quarter. Renaissance Technologies LLC now owns 122,100 shares of the industrial products company’s stock worth $1,935,000 after buying an additional 8,000 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Myers Industries by 3.1% in the first quarter. Geode Capital Management LLC now owns 166,155 shares of the industrial products company’s stock worth $2,633,000 after buying an additional 4,932 shares during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.

Myers Industries Company Profile

Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.

12 Month Chart for NYSE:MYE

Get a free copy of the Zacks research report on Myers Industries (MYE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Myers Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries Inc. and related stocks with our FREE daily email newsletter.