Wall Street brokerages expect Myers Industries, Inc. (NYSE:MYE) to post earnings per share (EPS) of $0.14 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Myers Industries’ earnings. The lowest EPS estimate is $0.13 and the highest is $0.15. Myers Industries reported earnings per share of $0.15 in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.7%. The firm is expected to issue its next earnings report on Tuesday, November 5th.

On average, analysts expect that Myers Industries will report full-year earnings of $0.80 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.82. For the next year, analysts forecast that the company will post earnings of $0.90 per share, with EPS estimates ranging from $0.88 to $0.93. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Myers Industries.

Myers Industries (NYSE:MYE) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Myers Industries had a negative net margin of 0.99% and a positive return on equity of 17.51%. The firm had revenue of $134.30 million during the quarter, compared to the consensus estimate of $138.00 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Myers Industries’s revenue was down 4.5% compared to the same quarter last year.

MYE has been the subject of a number of recent analyst reports. Cowen upgraded shares of Myers Industries from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a report on Tuesday, August 27th. Zacks Investment Research downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Wednesday.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in Myers Industries by 1.0% during the first quarter. First Trust Advisors LP now owns 64,443 shares of the industrial products company’s stock worth $1,103,000 after buying an additional 642 shares during the period. SeaBridge Investment Advisors LLC lifted its position in shares of Myers Industries by 3.8% during the second quarter. SeaBridge Investment Advisors LLC now owns 21,141 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 766 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Myers Industries by 3.8% during the first quarter. Texas Permanent School Fund now owns 24,003 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 869 shares in the last quarter. Comerica Bank lifted its position in shares of Myers Industries by 2.9% during the first quarter. Comerica Bank now owns 34,795 shares of the industrial products company’s stock worth $633,000 after purchasing an additional 986 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Myers Industries by 2.2% during the second quarter. Prudential Financial Inc. now owns 63,739 shares of the industrial products company’s stock worth $1,228,000 after purchasing an additional 1,360 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Myers Industries stock traded down $0.13 during trading on Friday, reaching $17.73. The company had a trading volume of 235,885 shares, compared to its average volume of 120,413. Myers Industries has a 12-month low of $14.24 and a 12-month high of $25.70. The stock’s 50 day moving average price is $16.37 and its two-hundred day moving average price is $17.61. The firm has a market capitalization of $633.91 million, a price-to-earnings ratio of 23.33 and a beta of 1.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.77 and a current ratio of 2.26.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, August 30th. This represents a $0.54 annualized dividend and a yield of 3.05%. Myers Industries’s dividend payout ratio is currently 71.05%.

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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