KeyCorp reissued their sell rating on shares of Myers Industries, Inc. (NYSE:MYE) in a research report released on Tuesday morning. KeyCorp also issued estimates for Myers Industries’ Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.07 EPS, FY2017 earnings at $0.48 EPS and FY2018 earnings at $0.51 EPS.
A number of other equities analysts have also recently weighed in on the stock. TheStreet raised shares of Myers Industries from a c rating to a b- rating in a research note on Monday, May 8th. Zacks Investment Research cut shares of Myers Industries from a buy rating to a hold rating in a research note on Wednesday, May 10th. Finally, BidaskClub cut shares of Myers Industries from a hold rating to a sell rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the company. Myers Industries presently has an average rating of Hold and a consensus price target of $16.50.
Myers Industries (NYSE:MYE) traded down 7.78% during trading on Tuesday, reaching $16.00. 185,996 shares of the company’s stock traded hands. Myers Industries has a one year low of $11.35 and a one year high of $19.45. The firm’s 50 day moving average price is $18.18 and its 200-day moving average price is $16.17. The stock has a market cap of $482.46 million, a P/E ratio of 120.30 and a beta of 1.76.
Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Myers Industries had a net margin of 0.74% and a return on equity of 10.71%. The business had revenue of $142.30 million for the quarter, compared to analysts’ expectations of $142.95 million. During the same period in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that Myers Industries will post $0.51 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Myers Industries, Inc. (NYSE:MYE) Earns Sell Rating from KeyCorp” was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://stocknewstimes.com/2017/08/04/myers-industries-inc-nysemye-earns-sell-rating-from-keycorp.html.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 16th were paid a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $0.54 dividend on an annualized basis and a yield of 3.38%. Myers Industries’s payout ratio is 415.38%.
In related news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $18.44, for a total value of $55,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 3,700 shares of company stock worth $67,425. 0.75% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System raised its position in Myers Industries by 0.9% in the first quarter. Arizona State Retirement System now owns 11,386 shares of the industrial products company’s stock worth $180,000 after buying an additional 100 shares during the period. Texas Permanent School Fund raised its position in Myers Industries by 1.4% in the second quarter. Texas Permanent School Fund now owns 16,031 shares of the industrial products company’s stock worth $288,000 after buying an additional 216 shares during the period. Schwab Charles Investment Management Inc. raised its position in Myers Industries by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 88,832 shares of the industrial products company’s stock worth $1,595,000 after buying an additional 513 shares during the period. North Star Investment Management Corp. raised its position in Myers Industries by 0.4% in the second quarter. North Star Investment Management Corp. now owns 157,116 shares of the industrial products company’s stock worth $2,820,000 after buying an additional 654 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in Myers Industries by 0.3% in the first quarter. Thrivent Financial For Lutherans now owns 285,370 shares of the industrial products company’s stock worth $4,523,000 after buying an additional 790 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.
Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
Receive News & Ratings for Myers Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
