Zacks: Myers Industries, Inc. (MYE) Given $17.50 Average Target Price by Brokerages
Myers Industries, Inc. (NYSE:MYE) has earned a consensus broker rating score of 4.00 (Sell) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and one has issued a hold rating on the company.
Brokers have set a 12 month consensus target price of $17.50 for the company and are predicting that the company will post $0.09 EPS for the current quarter, according to Zacks. Zacks has also given Myers Industries an industry rank of 16 out of 265 based on the ratings given to related companies.
MYE has been the subject of several research reports. Zacks Investment Research downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. KeyCorp reissued a “sell” rating and set a $15.00 price objective on shares of Myers Industries in a report on Tuesday, November 7th.
Myers Industries (MYE) opened at $19.40 on Friday. The firm has a market cap of $583.94, a price-to-earnings ratio of 84.35, a P/E/G ratio of 13.27 and a beta of 1.75. The company has a quick ratio of 1.06, a current ratio of 1.56 and a debt-to-equity ratio of 1.62. Myers Industries has a 1-year low of $13.20 and a 1-year high of $22.65.
Myers Industries (NYSE:MYE) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $144.10 million during the quarter, compared to the consensus estimate of $138.93 million. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. Myers Industries’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. analysts expect that Myers Industries will post 0.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Thursday, November 30th. Myers Industries’s dividend payout ratio (DPR) is presently 234.78%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Myers Industries during the 3rd quarter valued at about $107,000. Moors & Cabot Inc. raised its position in shares of Myers Industries by 5.2% during the 3rd quarter. Moors & Cabot Inc. now owns 55,087 shares of the industrial products company’s stock valued at $1,155,000 after buying an additional 2,710 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Myers Industries by 11.9% during the 3rd quarter. California Public Employees Retirement System now owns 55,502 shares of the industrial products company’s stock valued at $1,163,000 after buying an additional 5,902 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Myers Industries by 124.4% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 9,200 shares of the industrial products company’s stock valued at $192,000 after buying an additional 5,100 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Myers Industries during the 3rd quarter valued at about $499,000. 84.87% of the stock is owned by institutional investors and hedge funds.
Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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