Myers Industries Inc. (NYSE: MYE) has reported earnings for its fourth fiscal quarter (ending December 31) of $0.34 versus $0.37 for the same period a year ago. For the latest four quarters through December 31, E.P.S. were $1.33 compared to $1.66 a year ago.
Recent Price Action
On 3/5/24, Myers Industries Inc. (NYSE: MYE) stock enjoyed a very large increase of 6.7%, closing at $20.73. Moreover, this advance was accompanied by unusually high trading volume at 167% of normal. The stock has performed in line with the market over the last nine months and has risen 5.4% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, MYE is expected to continue to be a Value Builder.
Myers Industries has a current Value Trend Rating of C (Low Neutral). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Myers Industries has a neutral Appreciation Score of 48 and a neutral Power Rating of 45, with the Low Neutral Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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