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

by · The Cerbat Gem

Myers Industries (NYSE:MYE – Get Free Report) 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.

Analyst Upgrades and Downgrades

Separately, KeyCorp decreased their target price on shares of Myers Industries from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th.

Read Our Latest Stock Analysis on Myers Industries

Myers Industries Trading Down 0.3 %

NYSE:MYE traded down $0.04 during mid-day trading on Monday, reaching $11.71. The company’s stock had a trading volume of 278,159 shares, compared to its average volume of 249,247. Myers Industries has a twelve month low of $11.66 and a twelve month high of $23.63. The company’s fifty day simple moving average is $13.47 and its two-hundred day simple moving average is $14.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.16. The stock has a market cap of $435.85 million, a P/E ratio of 11.15 and a beta of 1.23.

Myers Industries (NYSE:MYE – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $220.24 million for the quarter. Myers Industries had a return on equity of 16.27% and a net margin of 4.79%. During the same quarter last year, the business earned $0.35 earnings per share. On average, equities analysts predict that Myers Industries will post 1.13 EPS for the current year.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a yield of 4.61%. Myers Industries’s dividend payout ratio (DPR) is 51.43%.

About Myers Industries

(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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