Zacks: Analysts Expect Myers Industries, Inc. (MYE) to Post $0.09 EPS
Equities research analysts expect Myers Industries, Inc. (NYSE:MYE) to post earnings per share (EPS) of $0.09 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Myers Industries’ earnings. The lowest EPS estimate is $0.07 and the highest is $0.10. The business is expected to report its next quarterly earnings results on Thursday, March 8th.
On average, analysts expect that Myers Industries will report full-year earnings of $0.49 per share for the current fiscal year, with EPS estimates ranging from $0.48 to $0.50. For the next fiscal year, analysts forecast that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.59 to $0.72. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Myers Industries.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Saturday, January 6th. KeyCorp reiterated a “sell” rating and set a $15.00 price objective on shares of Myers Industries in a research note on Tuesday, November 7th. Finally, Wells Fargo & Co upgraded shares of Myers Industries from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.67.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in Myers Industries by 42.6% during the fourth quarter. Renaissance Technologies LLC now owns 384,600 shares of the industrial products company’s stock valued at $7,500,000 after purchasing an additional 114,800 shares during the period. Geode Capital Management LLC lifted its position in Myers Industries by 11.7% during the fourth quarter. Geode Capital Management LLC now owns 223,308 shares of the industrial products company’s stock valued at $4,353,000 after purchasing an additional 23,428 shares during the period. Loews Corp acquired a new position in Myers Industries during the fourth quarter valued at $6,166,000. Martingale Asset Management L P acquired a new position in Myers Industries during the fourth quarter valued at $648,000. Finally, Citadel Advisors LLC acquired a new position in Myers Industries during the fourth quarter valued at $388,000. Institutional investors own 85.03% of the company’s stock.
About Myers Industries
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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