Brokerages Expect Myers Industries, Inc. (MYE) to Announce $0.15 EPS

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Analysts expect Myers Industries, Inc. (NYSE:MYE) to report earnings per share of $0.15 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Myers Industries’ earnings. Myers Industries reported earnings per share of $0.11 during the same quarter last year, which would suggest a positive year over year growth rate of 36.4%. The company is expected to report its next earnings results on Tuesday, November 6th.

On average, analysts expect that Myers Industries will report full-year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.82. For the next year, analysts expect that the company will post earnings of $0.88 per share, with EPS estimates ranging from $0.84 to $0.94. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Myers Industries.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Monday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $140.60 million for the quarter, compared to analyst estimates of $144.30 million. Myers Industries had a return on equity of 19.11% and a net margin of 0.08%. Myers Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS.

MYE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Myers Industries from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, September 12th. Cowen initiated coverage on Myers Industries in a report on Friday, September 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. initiated coverage on Myers Industries in a report on Wednesday, July 11th. They issued a “neutral” rating and a $22.00 price objective on the stock. KeyCorp reiterated a “sector weight” rating on shares of Myers Industries in a report on Tuesday, August 28th. Finally, ValuEngine downgraded Myers Industries from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Myers Industries currently has a consensus rating of “Hold” and an average target price of $21.80.

MYE stock traded down $0.02 during mid-day trading on Friday, reaching $15.48. The company had a trading volume of 155,000 shares, compared to its average volume of 172,233. Myers Industries has a fifty-two week low of $15.32 and a fifty-two week high of $25.70. The firm has a market capitalization of $556.58 million, a P/E ratio of 30.90 and a beta of 1.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.34.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Friday, September 7th were paid a dividend of $0.135 per share. The ex-dividend date was Thursday, September 6th. This represents a $0.54 dividend on an annualized basis and a yield of 3.49%. Myers Industries’s dividend payout ratio is presently 105.88%.

A number of large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY grew its stake in Myers Industries by 31.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock worth $199,000 after buying an additional 2,462 shares during the last quarter. New York State Teachers Retirement System grew its stake in Myers Industries by 3.7% during the 2nd quarter. New York State Teachers Retirement System now owns 73,990 shares of the industrial products company’s stock worth $1,421,000 after buying an additional 2,662 shares during the last quarter. Texas Permanent School Fund grew its stake in Myers Industries by 20.0% during the 2nd quarter. Texas Permanent School Fund now owns 17,412 shares of the industrial products company’s stock worth $334,000 after buying an additional 2,904 shares during the last quarter. Strs Ohio grew its stake in Myers Industries by 9.7% during the 2nd quarter. Strs Ohio now owns 38,400 shares of the industrial products company’s stock worth $737,000 after buying an additional 3,400 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Myers Industries by 28.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the industrial products company’s stock worth $360,000 after buying an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 86.75% of the company’s stock.

About Myers Industries

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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