Wall Street analysts expect that Myers Industries, Inc. (NYSE:MYE) will report sales of $107.48 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Myers Industries’ earnings, with estimates ranging from $107.23 million to $107.90 million. Myers Industries posted sales of $134.29 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 20%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Myers Industries will report full-year sales of $462.36 million for the current fiscal year, with estimates ranging from $459.01 million to $467.60 million. For the next fiscal year, analysts expect that the company will report sales of $482.64 million, with estimates ranging from $464.74 million to $509.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Myers Industries.

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

MYE has been the subject of a number of recent research reports. Zacks Investment Research cut Myers Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Robert W. Baird dropped their price objective on Myers Industries from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Myers Industries from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.50.

Shares of Myers Industries stock traded up $0.70 on Thursday, reaching $14.32. The company had a trading volume of 139,500 shares, compared to its average volume of 181,848. The firm has a market cap of $487.16 million, a price-to-earnings ratio of 14.92 and a beta of 1.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.59 and a quick ratio of 1.18. The firm’s 50-day moving average price is $13.49 and its two-hundred day moving average price is $13.91. Myers Industries has a 1 year low of $6.91 and a 1 year high of $19.55.

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

In other Myers Industries news, CEO Michael P. Mcgaugh acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought 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 directly owns 50,000 shares in the company, valued at $607,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 27,500 shares of company stock valued at $333,415. 0.74% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. AJO LP bought a new stake in Myers Industries during the 1st quarter valued at $28,000. Acadian Asset Management LLC bought a new stake in Myers Industries during the 1st quarter valued at $36,000. Point72 Hong Kong Ltd bought a new stake in Myers Industries during the 4th quarter valued at $45,000. Marshall Wace LLP bought a new stake in Myers Industries during the 4th quarter valued at $100,000. Finally, Victory Capital Management Inc. raised its position in Myers Industries by 38.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,443 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,782 shares in the last quarter. 89.36% of the stock is owned by institutional investors and hedge funds.

Myers Industries Company Profile

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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