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Equities analysts expect that Myers Industries, Inc. (NYSE:MYE - Get Rating) will report sales of $217.54 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Myers Industries' earnings, with the lowest sales estimate coming in at $215.28 million and the highest estimate coming in at $219.80 million. Myers Industries reported sales of $187.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.1%. The firm is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Myers Industries will report full year sales of $873.05 million for the current year, with estimates ranging from $869.40 million to $876.70 million. For the next fiscal year, analysts expect that the firm will report sales of $924.44 million, with estimates ranging from $917.28 million to $931.60 million. Zacks Investment Research's sales calculations are an average based on a survey of research analysts that that provide coverage for Myers Industries.
Myers Industries (NYSE:MYE - Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.22. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. The company had revenue of $225.49 million for the quarter, compared to the consensus estimate of $204.21 million. During the same quarter in the previous year, the business earned $0.22 EPS.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Myers Industries from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a report on Wednesday, May 4th. StockNews.com upgraded Myers Industries from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 26th.
Shares of NYSE:MYE opened at $24.85 on Friday. Myers Industries has a 1 year low of $15.82 and a 1 year high of $25.55. The company has a market cap of $903.15 million, a PE ratio of 20.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.71 and a quick ratio of 1.04. The stock's 50-day moving average is $22.68 and its 200 day moving average is $20.11.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th will be issued a dividend of $0.135 per share. The ex-dividend date is Thursday, June 16th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.17%. Myers Industries's dividend payout ratio (DPR) is 45.38%.
In related news, Director Frederic Jack Liebau, Jr. purchased 5,000 shares of the company's stock in a transaction dated Tuesday, March 15th. The shares were purchased at an average cost of $18.42 per share, with a total value of $92,100.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.97% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of MYE. First Trust Advisors LP boosted its position in shares of Myers Industries by 1.0% in the 1st quarter. First Trust Advisors LP now owns 64,443 shares of the industrial products company's stock worth $1,103,000 after purchasing an additional 642 shares in the last quarter. Royal Bank of Canada lifted its position in Myers Industries by 31.9% in the 2nd quarter. Royal Bank of Canada now owns 7,573 shares of the industrial products company's stock valued at $159,000 after acquiring an additional 1,831 shares in the last quarter. Citadel Advisors LLC lifted its position in Myers Industries by 41.2% in the 2nd quarter. Citadel Advisors LLC now owns 23,442 shares of the industrial products company's stock valued at $493,000 after acquiring an additional 6,843 shares in the last quarter. Millennium Management LLC bought a new position in Myers Industries in the 2nd quarter valued at approximately $434,000. Finally, Morgan Stanley lifted its position in Myers Industries by 68.5% in the 2nd quarter. Morgan Stanley now owns 147,149 shares of the industrial products company's stock valued at $3,089,000 after acquiring an additional 59,827 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Myers Industries Company Profile (Get Rating)
Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.
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