Myers Industries (NYSE:MYE) Announces Earnings Results, Misses Expectations By $0.04 EPS

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

Myers Industries Trading Down 2.7 %

NYSE MYE opened at $11.39 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81. Myers Industries has a one year low of $10.77 and a one year high of $23.63. The company’s 50 day moving average price is $13.33 and its 200 day moving average price is $14.83. The firm has a market capitalization of $423.94 million, a price-to-earnings ratio of 10.85 and a beta of 1.23.

Myers Industries Dividend Announcement

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

Wall Street Analyst Weigh In

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

About Myers Industries

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.