Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Myers Industries (MYE) Share Price
Media headlines about Myers Industries (NYSE:MYE) have been trending somewhat positive on Friday, Accern reports. Accern ranks the sentiment of press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Myers Industries earned a news impact score of 0.19 on Accern’s scale. Accern also assigned news stories about the industrial products company an impact score of 46.3158615239497 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Shares of Myers Industries (NYSE:MYE) traded up 0.28% on Friday, reaching $17.85. 3,148 shares of the company’s stock traded hands. Myers Industries has a 52-week low of $11.35 and a 52-week high of $19.45. The stock has a market cap of $540.05 million, a price-to-earnings ratio of 134.21 and a beta of 1.76. The firm’s 50-day moving average is $17.87 and its 200-day moving average is $16.58.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $142.30 million during the quarter, compared to analyst estimates of $142.95 million. Myers Industries had a net margin of 0.74% and a return on equity of 10.71%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. Analysts anticipate that Myers Industries will post $0.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, September 7th. Myers Industries’s payout ratio is 415.38%.
Several research analysts have commented on MYE shares. Zacks Investment Research downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Friday, June 9th. TheStreet raised shares of Myers Industries from a “c” rating to a “b-” rating in a report on Monday, May 8th. BidaskClub downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, KeyCorp reissued a “sell” rating on shares of Myers Industries in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $16.50.
In other news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $18.44, for a total transaction of $55,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by corporate insiders.
About Myers Industries
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.
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