Wall Street analysts forecast that Myers Industries, Inc. (NYSE:MYE) will post $141.60 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Myers Industries’ earnings, with the lowest sales estimate coming in at $135.00 million and the highest estimate coming in at $148.20 million. Myers Industries reported sales of $130.06 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The business is expected to report its next earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Myers Industries will report full-year sales of $141.60 million for the current financial year, with estimates ranging from $564.00 million to $576.30 million. For the next financial year, analysts expect that the business will post sales of $577.10 million per share, with estimates ranging from $576.00 million to $578.20 million. Zacks’ sales averages are an average based on a survey of analysts that follow Myers Industries.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, November 29th. KeyCorp restated a “sell” rating and set a $15.00 price objective on shares of Myers Industries in a research 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 price objective for the company in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.67.
Myers Industries (MYE) traded down $0.20 during trading on Friday, reaching $19.70. 46,600 shares of the company traded hands, compared to its average volume of 77,955. Myers Industries has a 52-week low of $13.20 and a 52-week high of $22.65. The firm has a market capitalization of $599.63, a PE ratio of 48.05, a P/E/G ratio of 10.03 and a beta of 1.84. The company has a current ratio of 1.56, a quick ratio of 1.06 and a debt-to-equity ratio of 1.62.
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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