Miller Industries (NYSE:MLR) Announces Quarterly Earnings Results

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

Miller Industries Price Performance

Shares of NYSE MLR traded down $0.04 during trading hours on Wednesday, hitting $52.20. 92,734 shares of the company’s stock were exchanged, compared to its average volume of 69,506. The company’s 50-day moving average price is $53.63 and its 200-day moving average price is $49.06. Miller Industries has a 1-year low of $35.72 and a 1-year high of $59.70. The stock has a market capitalization of $592.47 million, a price-to-earnings ratio of 42.13 and a beta of 1.13.

Analyst Ratings Changes

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