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

Posted by Donald Scott on Nov 6th, 2024

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

Myers Industries Price Performance

Shares of NYSE:MYE opened at $11.39 on Wednesday. The firm has a 50 day moving average of $13.33 and a 200-day moving average of $14.83. The stock has a market capitalization of $423.94 million, a PE ratio of 10.85 and a beta of 1.23. The company has a current ratio of 1.81, a quick ratio of 1.16 and a debt-to-equity ratio of 1.32. Myers Industries has a 12 month low of $10.77 and a 12 month high of $23.63.

Myers Industries Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is presently 51.43%.

Analyst Ratings Changes

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

Check Out Our Latest Research Report on MYE

Myers Industries Company Profile

(Get Free Report)

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.