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

Myers Industries (NYSE:MYE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.050-1.200 for the period, compared to the consensus earnings per share estimate of 1.280. The company issued revenue guidance of $853.7 million-$894.4 million, compared to the consensus revenue estimate of $915.8 million.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Myers Industries from a buy rating to a hold rating in a research note on Thursday, May 16th.

Myers Industries Stock Performance

MYE traded up $0.74 during trading on Thursday, reaching $15.64. 201,323 shares of the company’s stock were exchanged, compared to its average volume of 269,665. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.75 and a quick ratio of 1.10. The stock has a market capitalization of $581.50 million, a P/E ratio of 14.57 and a beta of 1.20. The company’s fifty day simple moving average is $14.49 and its 200-day simple moving average is $18.17. Myers Industries has a 1 year low of $12.47 and a 1 year high of $23.63.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.21 EPS for the quarter. Myers Industries had a net margin of 4.90% and a return on equity of 15.99%. The company had revenue of $207.10 million during the quarter.

Myers Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.135 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.54 annualized dividend and a dividend yield of 3.45%. Myers Industries’s payout ratio is 50.94%.

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.