Miller Industries (NYSE:MLR) Releases Earnings Results

Miller Industries (NYSE:MLR) issued its quarterly earnings data on Wednesday. The auto parts company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.11), FiscalAI reports. Miller Industries had a net margin of 1.86% and a return on equity of 3.41%. The company had revenue of $212.22 million during the quarter, compared to analyst estimates of $246.15 million.

Miller Industries Stock Down 0.1%

Shares of MLR stock traded down $0.04 during mid-day trading on Wednesday, hitting $52.20. 92,734 shares of the stock were exchanged, compared to its average volume of 69,506. The firm has a fifty day moving average of $53.63 and a 200 day moving average of $49.06. Miller Industries has a 52-week low of $35.72 and a 52-week high of $59.70. The company has a market cap of $592.47 million, a PE ratio of 42.10 and a beta of 1.13.

Analysts Set New Price Targets

MLR has been the subject of several recent research reports. Wall Street Zen cut Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research report on Monday, September 21st. DA Davidson upped their price objective on Miller Industries from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Zacks Research raised shares of Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.00.

Miller Industries Company Profile

Miller Industries, Inc designs, manufactures and sells towing and recovery equipment. Its product portfolio includes light-, medium- and heavy-duty tow trucks, vehicle carriers, wreckers, rotators, underlift systems and related equipment used to recover, transport and service disabled vehicles.

The company markets products under brands including Century, Vulcan, Chevron, Holmes and Champion. It also provides replacement parts and related support for its equipment. Miller Industries sells through a network of distributors and dealers to towing operators, transportation companies, government agencies and other commercial customers.

Headquartered in Ooltewah, Tennessee, Miller Industries serves customers in North America and international markets.