Brokerages Expect Myers Industries, Inc. (MYE) to Post $0.25 EPS
Equities analysts forecast that Myers Industries, Inc. (NYSE:MYE) will report earnings per share of $0.25 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Myers Industries’ earnings. The highest EPS estimate is $0.27 and the lowest is $0.23. Myers Industries reported earnings per share of $0.27 during the same quarter last year, which would suggest a negative year over year growth rate of 7.4%. The company is expected to issue its next quarterly earnings report on Monday, July 29th.
According to Zacks, analysts expect that Myers Industries will report full year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $0.82. For the next year, analysts expect that the firm will report earnings of $0.91 per share, with EPS estimates ranging from $0.90 to $0.92. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Myers Industries.
Myers Industries (NYSE:MYE) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $139.12 million for the quarter, compared to analysts’ expectations of $146.90 million. Myers Industries had a positive return on equity of 16.67% and a negative net margin of 0.62%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share.
Shares of MYE stock traded up $0.19 during trading hours on Wednesday, hitting $18.20. 85,637 shares of the company’s stock were exchanged, compared to its average volume of 100,114. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 2.10. The stock has a market capitalization of $634.06 million, a PE ratio of 24.07 and a beta of 1.69. Myers Industries has a 52 week low of $14.24 and a 52 week high of $25.70.
A number of institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its holdings in Myers Industries by 1.0% in the first quarter. First Trust Advisors LP now owns 64,443 shares of the industrial products company’s stock valued at $1,103,000 after acquiring an additional 642 shares during the last quarter. Texas Permanent School Fund boosted its holdings in Myers Industries by 3.8% in the first quarter. Texas Permanent School Fund now owns 24,003 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 869 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Myers Industries by 2.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 34,825 shares of the industrial products company’s stock valued at $527,000 after acquiring an additional 908 shares during the last quarter. Comerica Bank boosted its holdings in Myers Industries by 2.9% in the first quarter. Comerica Bank now owns 34,795 shares of the industrial products company’s stock valued at $633,000 after acquiring an additional 986 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in Myers Industries by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 76,727 shares of the industrial products company’s stock valued at $1,159,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.
Myers Industries Company Profile
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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