Myers Industries (NYSE:MYE) Posts Earnings Results

Posted by Frank Smitson on Aug 3rd, 2024

Myers Industries (NYSE:MYE – Get Free Report) announced its quarterly earnings data on Thursday. The industrial products company reported $0.39 earnings per share for the quarter, Zacks reports. The firm had revenue of $220.24 million during the quarter. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Myers Industries updated its FY 2024 guidance to 1.050-1.200 EPS.

Myers Industries Stock Down 7.4 %

Myers Industries stock traded down $1.15 during mid-day trading on Friday, reaching $14.39. The stock had a trading volume of 369,461 shares, compared to its average volume of 238,623. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.10. The company has a market capitalization of $535.02 million, a price-to-earnings ratio of 13.58 and a beta of 1.21. The company has a 50-day moving average price of $14.46 and a two-hundred day moving average price of $18.10. Myers Industries has a one year low of $12.47 and a one year high of $23.63.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Tuesday, June 18th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, June 18th. Myers Industries’s payout ratio is 50.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MYE shares. StockNews.com lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. KeyCorp dropped their target price on shares of Myers Industries from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday.

Check Out Our Latest Stock Analysis on Myers Industries

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.