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

by · The Markets Daily

Myers Industries (NYSE:MYE – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.920-1.020 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Separately, KeyCorp cut their price objective 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 Research Report on MYE

Myers Industries Stock Down 0.3 %

Shares of MYE traded down $0.04 during midday trading on Monday, hitting $11.71. 278,330 shares of the company’s stock traded hands, compared to its average volume of 249,247. The company has a current ratio of 1.81, a quick ratio of 1.16 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $435.85 million, a price-to-earnings ratio of 11.15 and a beta of 1.23. Myers Industries has a 1 year low of $11.66 and a 1 year high of $23.63. The firm’s fifty day moving average is $13.47 and its 200-day moving average is $14.97.

Myers Industries (NYSE:MYE – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The business had revenue of $220.24 million for the quarter. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, sell-side analysts anticipate that Myers Industries will post 1.13 earnings per share for the current year.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 4.61%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is 51.43%.

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.

Featured Articles