S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
Log in

Myers Industries, Inc. (NYSE:MYE) Expected to Announce Earnings of $0.16 Per Share

Last updated on Sunday, February 28, 2021 | 2021 MarketBeat

Analysts expect Myers Industries, Inc. (NYSE:MYE) to announce earnings of $0.16 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Myers Industries' earnings, with estimates ranging from $0.13 to $0.19. Myers Industries reported earnings per share of $0.12 in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, March 11th.

On average, analysts expect that Myers Industries will report full year earnings of $0.91 per share for the current fiscal year, with EPS estimates ranging from $0.88 to $0.94. For the next financial year, analysts expect that the firm will report earnings of $1.06 per share, with EPS estimates ranging from $1.04 to $1.07. Zacks' earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Myers Industries.

A number of equities research analysts have issued reports on MYE shares. TheStreet upgraded shares of Myers Industries from a "c+" rating to a "b-" rating in a research report on Tuesday, December 1st. Cowen increased their price objective on Myers Industries from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, February 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Myers Industries has an average rating of "Hold" and a consensus price target of $17.00.

Shares of MYE stock traded down $0.35 during trading on Friday, hitting $22.14. 152,144 shares of the company were exchanged, compared to its average volume of 143,359. The firm has a market capitalization of $793.17 million, a price-to-earnings ratio of 20.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.70. The business's 50-day simple moving average is $21.79 and its 200 day simple moving average is $17.67. Myers Industries has a twelve month low of $6.91 and a twelve month high of $23.15.

A number of hedge funds and other institutional investors have recently bought and sold shares of MYE. First Trust Advisors LP increased its stake in shares of Myers Industries by 1.0% during the 1st quarter. First Trust Advisors LP now owns 64,443 shares of the industrial products company's stock worth $1,103,000 after purchasing an additional 642 shares during the last quarter. GSA Capital Partners LLP increased its position in Myers Industries by 4.9% during the fourth quarter. GSA Capital Partners LLP now owns 22,055 shares of the industrial products company's stock worth $458,000 after buying an additional 1,040 shares during the last quarter. Lazard Asset Management LLC increased its position in Myers Industries by 112.3% during the fourth quarter. Lazard Asset Management LLC now owns 2,015 shares of the industrial products company's stock worth $41,000 after buying an additional 1,066 shares during the last quarter. Adirondack Research & Management Inc. raised its holdings in Myers Industries by 3.4% during the third quarter. Adirondack Research & Management Inc. now owns 33,458 shares of the industrial products company's stock valued at $443,000 after buying an additional 1,100 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Myers Industries by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 270,877 shares of the industrial products company's stock worth $5,629,000 after buying an additional 1,196 shares during the last quarter. Hedge funds and other institutional investors own 88.53% of the company's stock.

About Myers Industries

Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets in the United States and internationally. It operates through two segments, Material Handling and Distribution. The Material Handling segment designs, manufactures, and markets various plastic and metal products, including plastic reusable material handling containers and small parts storage bins, plastic recreational vehicle tanks and parts, marine tanks and parts, portable plastic fuel tanks and water containers, portable marine fuel containers, ammunition containers, storage totes, bulk shipping containers, and metal carts and cabinets.

Featured Article: What is a conference call?

Get a free copy of the Zacks research report on Myers Industries (MYE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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 [email protected]


8 EV Stocks To Electrify Your Growth Portfolio

If you are looking for the next hot growth market, a market at the intersection of multiple secular trends, look no further than the EV market. Electric vehicles. It may not sound like much, but the days of EV as a fringe market are over.

Think about this. There is an average of 90 million vehicles sold annually. That’s units, not dollars, total sales of vehicles topped $3.1 trillion in 2019, and the number is expected to grow over the long-term.

The EV market is less than 3.% of global vehicle sales, but it’s growing. EV is expected to account for more than 50% of the total auto-fleet by 2050, and that target could be reached much sooner if battery technology advances.

When it comes to the EV market, it’s a “rising tide lifts all ships” kind of market, but there are still some clear winners to focus on.

View the "8 EV Stocks To Electrify Your Growth Portfolio".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.