Myers Industries, Inc. (NYSE:MYE) to Issue $0.14 Quarterly Dividend

Key Points

• Myers Industries, Inc. has declared a quarterly dividend of $0.14 per share, with shareholders of record receiving it on January 5th, which equates to a 3.1% annual yield.
• The company reported a net margin of just 1.20% and earnings of $0.31 per share last quarter, which was below analysts' expectations.
• Current equity analysts hold a consensus rating of "Moderate Buy" for Myers Industries, with an average price target set at $21.00.

Myers Industries, Inc. (NYSE:MYE - Get Free Report) declared a quarterly dividend on Friday, October 24th. Shareholders of record on Wednesday, December 3rd will be given a dividend of 0.135 per share by the industrial products company on Monday, January 5th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 3rd.

Myers Industries has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Myers Industries to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 46.2%.

Myers Industries Stock Performance

MYE stock traded up $0.36 during trading on Friday, reaching $17.39. The stock had a trading volume of 229,642 shares, compared to its average volume of 273,343. Myers Industries has a 52 week low of $9.06 and a 52 week high of $17.44. The stock's 50 day moving average is $16.46 and its two-hundred day moving average is $14.38. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 1.24. The firm has a market cap of $650.56 million, a PE ratio of 66.88 and a beta of 1.15.

Myers Industries (NYSE:MYE - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. The firm had revenue of $209.58 million during the quarter, compared to the consensus estimate of $220.60 million. As a group, equities analysts anticipate that Myers Industries will post 0.95 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MYE. Weiss Ratings reissued a "hold (c)" rating on shares of Myers Industries in a report on Wednesday, October 8th. Wall Street Zen downgraded Myers Industries from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Myers Industries Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.