Miller Industries (NYSE:MLR) Releases Quarterly Earnings Results

Miller Industries (NYSE:MLR) announced its earnings results on Wednesday. The auto parts company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.11), FiscalAI reports. The company had revenue of $212.22 million during the quarter, compared to analysts’ expectations of $246.15 million. Miller Industries had a net margin of 1.86% and a return on equity of 3.41%.

Miller Industries Price Performance

Shares of MLR stock traded down $7.29 during trading hours on Thursday, hitting $44.78. The stock had a trading volume of 130,123 shares, compared to its average volume of 80,532. Miller Industries has a one year low of $35.72 and a one year high of $59.70. The stock’s 50-day moving average price is $53.63 and its two-hundred day moving average price is $49.06. The stock has a market capitalization of $508.28 million, a price-to-earnings ratio of 36.11 and a beta of 1.13.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Miller Industries’s dividend payout ratio (DPR) is presently 67.74%.

Wall Street Analyst Weigh In

MLR has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research report on Monday, September 21st. Zacks Research raised shares of Miller Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. DA Davidson boosted their target price on Miller Industries from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.00.

About Miller Industries

Miller Industries, Inc designs, manufactures and sells towing and recovery equipment. Its product portfolio includes light-, medium- and heavy-duty tow trucks, vehicle carriers, wreckers, rotators, underlift systems and related equipment used to recover, transport and service disabled vehicles.

The company markets products under brands including Century, Vulcan, Chevron, Holmes and Champion. It also provides replacement parts and related support for its equipment. Miller Industries sells through a network of distributors and dealers to towing operators, transportation companies, government agencies and other commercial customers.

Headquartered in Ooltewah, Tennessee, Miller Industries serves customers in North America and international markets.