Myers Industries (NYSE:MYE) Releases Earnings Results, Misses Estimates By $0.04 EPS

Posted by Carolyn Dwyer on Nov 6th, 2024

Myers Industries (NYSE:MYE – Get Free Report) announced its quarterly earnings data on Monday. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04), Zacks reports. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. The firm had revenue of $205.07 million during the quarter. During the same period in the previous year, the business posted $0.38 earnings per share. Myers Industries updated its FY 2024 guidance to 0.920-1.020 EPS.

Myers Industries Stock Performance

Shares of MYE stock opened at $11.39 on Wednesday. The company has a market capitalization of $423.94 million, a price-to-earnings ratio of 10.85 and a beta of 1.23. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81. The company has a 50-day simple moving average of $13.33 and a 200 day simple moving average of $14.83. Myers Industries has a 52 week low of $10.77 and a 52 week high of $23.63.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is presently 51.43%.

Analyst Upgrades and Downgrades

Separately, KeyCorp downgraded shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday.

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About Myers Industries

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Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.