Myers Industries (MYE) Earning Somewhat Favorable Media Coverage, Analysis Shows

Press coverage about Myers Industries (NYSE:MYE) has been trending somewhat positive on Sunday, according to Accern. Accern rates the sentiment of news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Myers Industries earned a news sentiment score of 0.05 on Accern’s scale. Accern also assigned media headlines about the industrial products company an impact score of 45.7910998280157 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

Myers Industries (NYSE:MYE) remained flat at $$20.95 on Friday. The company’s stock had a trading volume of 152,082 shares, compared to its average volume of 106,744. The company has a quick ratio of 1.06, a current ratio of 1.56 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $637.68, a price-to-earnings ratio of 91.09, a price-to-earnings-growth ratio of 10.66 and a beta of 1.76. Myers Industries has a 12-month low of $13.20 and a 12-month high of $22.65.

Myers Industries (NYSE:MYE) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. The company had revenue of $144.10 million for the quarter, compared to analyst estimates of $138.93 million. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. equities research analysts expect that Myers Industries will post 0.49 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were issued a $0.135 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.54 annualized dividend and a yield of 2.58%. Myers Industries’s dividend payout ratio (DPR) is presently 234.78%.

Several equities analysts recently weighed in on MYE shares. Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, November 29th. KeyCorp restated a “sell” rating and issued a $15.00 price objective on shares of Myers Industries in a report on Tuesday, November 7th. Finally, Wells Fargo & Co upgraded shares of Myers Industries from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $20.67.

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About Myers Industries

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.

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