Myers Industries (NYSE:MYE) Updates FY 2024 Earnings Guidance

Myers Industries (NYSE:MYE) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 0.920-1.020 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of $813.1 million-$853.7 million, compared to the consensus revenue estimate of $862.5 million.

Myers Industries Stock Down 1.2 %

Shares of MYE stock traded down $0.15 during trading hours on Thursday, hitting $12.07. 177,526 shares of the company’s stock traded hands, compared to its average volume of 253,169. 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 stock has a market cap of $449.27 million, a price-to-earnings ratio of 29.07 and a beta of 1.23. The stock’s fifty day simple moving average is $13.27 and its two-hundred day simple moving average is $14.82. Myers Industries has a 12-month low of $10.77 and a 12-month high of $23.63.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.53%. The business had revenue of $205.07 million during the quarter. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, analysts expect that Myers Industries will post 1.13 EPS for the current year.

Myers Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

Separately, KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday.

About Myers Industries

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.