Myers Industries (NYSE:MYE) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Myers Industries (NYSE:MYEGet Free Report) announced its quarterly earnings data on Monday. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04), Zacks reports. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. The company had revenue of $205.07 million for the quarter. During the same period in the previous year, the business posted $0.38 EPS. Myers Industries updated its FY 2024 guidance to 0.920-1.020 EPS.

Myers Industries Price Performance

NYSE MYE traded down $0.11 during trading hours on Tuesday, reaching $11.60. The company’s stock had a trading volume of 252,793 shares, compared to its average volume of 249,267. Myers Industries has a 1 year low of $10.77 and a 1 year high of $23.63. The company has a quick ratio of 1.16, a current ratio of 1.81 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $431.75 million, a price-to-earnings ratio of 10.39 and a beta of 1.23. The firm’s 50-day moving average price is $13.40 and its 200-day moving average price is $14.91.

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.66%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is presently 51.43%.

Analyst Ratings Changes

Separately, KeyCorp reduced their price objective on shares of Myers Industries from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th.

Check Out Our Latest Stock Analysis on MYE

Myers Industries Company Profile

(Get Free Report)

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.

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Earnings History for Myers Industries (NYSE:MYE)

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