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

Myers Industries (NYSE:MYE) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.920-1.020 for the period, compared to the consensus 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 dropped their target price on Myers Industries from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th.

Myers Industries Trading Down 0.3 %

NYSE MYE traded down $0.04 during trading hours on Monday, reaching $11.71. The company had a trading volume of 278,159 shares, compared to its average volume of 249,247. The stock has a 50-day moving average of $13.47 and a 200 day moving average of $14.97. The stock has a market capitalization of $435.85 million, a P/E ratio of 11.15 and a beta of 1.23. Myers Industries has a 1-year low of $11.66 and a 1-year high of $23.63. The company has a current ratio of 1.81, a quick ratio of 1.16 and a debt-to-equity ratio of 1.32.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Myers Industries had a return on equity of 16.27% and a net margin of 4.79%. The company had revenue of $220.24 million for the quarter. During the same quarter last year, the company earned $0.35 EPS. As a group, research analysts anticipate that Myers Industries will post 1.13 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s payout ratio is 51.43%.

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.