Myers Industries (NYSE:MYE - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.300-1.450 for the period, compared to the consensus estimate of 1.370. The company issued revenue guidance of $935.0 million-$975.7 million, compared to the consensus revenue estimate of $941.7 million.
Myers Industries Stock Down 1.5 %
Shares of NYSE:MYE traded down $0.27 during trading hours on Wednesday, reaching $17.95. The stock had a trading volume of 436,833 shares, compared to its average volume of 260,304. Myers Industries has a 1 year low of $15.65 and a 1 year high of $23.63. The firm's 50 day moving average is $21.67 and its 200-day moving average is $19.55. The stock has a market capitalization of $663.07 million, a price-to-earnings ratio of 13.65 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.00 and a current ratio of 1.55.
Myers Industries (NYSE:MYE - Get Free Report) last issued its earnings results on Tuesday, March 5th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $191.08 million for the quarter, compared to analyst estimates of $191.60 million. Myers Industries had a return on equity of 18.55% and a net margin of 6.01%. During the same quarter last year, the company earned $0.32 EPS. Research analysts predict that Myers Industries will post 1.38 earnings per share for the current fiscal year.
Myers Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Saturday, March 16th were paid a dividend of $0.135 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.54 annualized dividend and a yield of 3.01%. Myers Industries's dividend payout ratio is currently 40.91%.
Analyst Ratings Changes
MYE has been the topic of several research reports. KeyCorp raised their price objective on Myers Industries from $22.00 to $30.00 and gave the stock an overweight rating in a report on Friday, March 22nd. StockNews.com raised Myers Industries from a buy rating to a strong-buy rating in a research report on Saturday, March 16th.
Read Our Latest Report on Myers Industries
About Myers Industries
(
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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.
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