Miller Industries (NYSE:MLR) Posts Earnings Results, Misses Estimates By $0.11 EPS

Miller Industries (NYSE:MLR) announced its quarterly earnings data on Wednesday. The auto parts company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.11), FiscalAI reports. Miller Industries had a net margin of 1.86% and a return on equity of 3.41%. The company had revenue of $212.22 million for the quarter, compared to analyst estimates of $246.15 million.

Miller Industries Trading Down 0.1%

Miller Industries stock traded down $0.04 during mid-day trading on Wednesday, hitting $52.20. The stock had a trading volume of 92,734 shares, compared to its average volume of 69,506. The stock has a 50-day simple moving average of $53.63 and a two-hundred day simple moving average of $49.06. The stock has a market capitalization of $592.47 million, a PE ratio of 42.13 and a beta of 1.13. Miller Industries has a 12 month low of $35.72 and a 12 month high of $59.70.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a research note on Monday, September 21st. DA Davidson lifted their target price on shares of Miller Industries from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Zacks Research raised Miller Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Miller Industries currently has a consensus rating of “Hold” and an average price target of $54.00.

Miller Industries Company Profile

Miller Industries, Inc designs, manufactures and sells towing and recovery equipment. Its product portfolio includes light-, medium- and heavy-duty tow trucks, vehicle carriers, wreckers, rotators, underlift systems and related equipment used to recover, transport and service disabled vehicles.

The company markets products under brands including Century, Vulcan, Chevron, Holmes and Champion. It also provides replacement parts and related support for its equipment. Miller Industries sells through a network of distributors and dealers to towing operators, transportation companies, government agencies and other commercial customers.

Headquartered in Ooltewah, Tennessee, Miller Industries serves customers in North America and international markets.