Myers Industries (NYSE:MYE) Issues FY 2024 Earnings Guidance

Myers Industries (NYSE:MYE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.920-1.020 for the period, compared to the consensus earnings per share estimate of 1.140. The company issued revenue guidance of $813.1 million-$853.7 million, compared to the consensus revenue estimate of $862.5 million.

Analysts Set New Price Targets

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

Myers Industries Stock Performance

MYE stock traded down $0.15 during trading on Thursday, reaching $12.07. The company had a trading volume of 177,526 shares, compared to its average volume of 253,169. The company has a market cap of $449.27 million, a price-to-earnings ratio of 29.07 and a beta of 1.23. Myers Industries has a twelve month low of $10.77 and a twelve month high of $23.63. 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 firm has a 50-day simple moving average of $13.27 and a 200-day simple moving average of $14.82.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a return on equity of 14.53% and a net margin of 1.88%. The company had revenue of $205.07 million for the quarter. During the same period in the prior year, the firm earned $0.38 EPS. As a group, sell-side analysts expect that Myers Industries will post 1.13 earnings per share for the current year.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be issued a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.47%. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

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.