Equities research analysts expect that Myers Industries, Inc. (NYSE:MYE) will announce $0.19 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Myers Industries’ earnings, with estimates ranging from $0.11 to $0.23. Myers Industries reported earnings per share of $0.27 during the same quarter last year, which suggests a negative year over year growth rate of 29.6%. The company is scheduled to report its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Myers Industries will report full year earnings of $0.59 per share for the current year, with EPS estimates ranging from $0.52 to $0.64. For the next year, analysts expect that the firm will post earnings of $0.68 per share, with EPS estimates ranging from $0.54 to $0.76. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Myers Industries.

Myers Industries (NYSE:MYE) last posted its earnings results on Wednesday, May 6th. The industrial products company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Myers Industries had a net margin of 6.87% and a return on equity of 16.32%. The business had revenue of $122.30 million for the quarter, compared to the consensus estimate of $143.00 million. During the same period last year, the company earned $0.23 EPS. The firm’s revenue was down 12.0% compared to the same quarter last year.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Myers Industries from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Robert W. Baird cut their target price on shares of Myers Industries from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Zacks Investment Research downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Myers Industries currently has a consensus rating of “Hold” and an average price target of $15.50.

NYSE:MYE traded up $0.70 during mid-day trading on Tuesday, hitting $14.32. 139,500 shares of the company’s stock were exchanged, compared to its average volume of 181,848. The company has a 50 day simple moving average of $13.49 and a 200-day simple moving average of $13.91. The company has a current ratio of 1.59, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23. Myers Industries has a fifty-two week low of $6.91 and a fifty-two week high of $19.55. The firm has a market capitalization of $487.16 million, a P/E ratio of 14.92 and a beta of 1.48.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be issued a dividend of $0.135 per share. The ex-dividend date is Thursday, June 11th. This represents a $0.54 annualized dividend and a yield of 3.77%. Myers Industries’s payout ratio is 69.23%.

In other news, CEO Michael P. Mcgaugh purchased 25,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $12.14 per share, for a total transaction of $303,500.00. Following the acquisition, the chief executive officer now owns 50,000 shares in the company, valued at $607,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 27,500 shares of company stock valued at $333,415. Company insiders own 0.74% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MYE. Wells Fargo & Company MN increased its stake in shares of Myers Industries by 933.7% in the 1st quarter. Wells Fargo & Company MN now owns 910,603 shares of the industrial products company’s stock valued at $9,789,000 after acquiring an additional 822,515 shares in the last quarter. Norges Bank bought a new stake in shares of Myers Industries in the 4th quarter valued at $11,916,000. Assenagon Asset Management S.A. bought a new stake in shares of Myers Industries in the 1st quarter valued at $3,106,000. Renaissance Technologies LLC increased its stake in shares of Myers Industries by 20.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,616,400 shares of the industrial products company’s stock valued at $26,962,000 after acquiring an additional 278,997 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Myers Industries by 619.2% in the 4th quarter. UBS Group AG now owns 201,312 shares of the industrial products company’s stock valued at $3,358,000 after acquiring an additional 173,319 shares in the last quarter. Institutional investors own 89.36% of the company’s stock.

About Myers Industries

Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.

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