Myers Industries (NYSE:MYE) Issues Quarterly Earnings Results

Posted by Jim Brewer on Aug 4th, 2024

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

Myers Industries Price Performance

NYSE MYE traded down $1.15 on Friday, reaching $14.39. 369,461 shares of the stock traded hands, compared to its average volume of 238,623. The firm’s fifty day simple moving average is $14.46 and its 200 day simple moving average is $18.10. The company has a quick ratio of 1.10, a current ratio of 1.81 and a debt-to-equity ratio of 1.32. The company has a market cap of $535.02 million, a price-to-earnings ratio of 13.58 and a beta of 1.21. Myers Industries has a 12 month low of $12.47 and a 12 month high of $23.63.

Myers Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

MYE has been the topic of several analyst reports. StockNews.com cut Myers Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. KeyCorp lowered their target price on Myers Industries from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday.

Check Out Our Latest Report on Myers Industries

About Myers Industries

(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.