Myers Industries, Inc. (MYE) Releases Earnings Results, Hits Estimates
Myers Industries, Inc. (NYSE:MYE) released its quarterly earnings results on Tuesday. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.11, Briefing.com reports. The firm had revenue of $144.10 million for the quarter, compared to the consensus estimate of $138.93 million. Myers Industries had a return on equity of 10.71% and a net margin of 0.74%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS.
Myers Industries (NYSE MYE) traded down $1.20 during midday trading on Tuesday, reaching $20.25. The company had a trading volume of 99,706 shares, compared to its average volume of 94,851. The stock has a market capitalization of $612.67, a P/E ratio of 63.24, a PEG ratio of 15.09 and a beta of 1.77. The company has a quick ratio of 1.10, a current ratio of 1.65 and a debt-to-equity ratio of 1.79. Myers Industries has a 12 month low of $11.60 and a 12 month high of $22.65.
A number of research firms have recently issued reports on MYE. Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. KeyCorp restated a “sell” rating on shares of Myers Industries in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.50.
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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