Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Investing.com - KeyBanc has maintained its Overweight rating and $21.00 price target on Myers Industries (NYSE:MYE), implying a 25% upside from the current price of $16.83, following a tour of the company’s Signature Systems manufacturing facility in Orlando, Florida. According to InvestingPro data, the stock has shown strong momentum with a 70% gain over the past six months.
The investment firm described Signature Systems, which represents approximately 20% of Myers’ Material Handling sales, as the company’s "crown jewel" and most profitable business line with significant growth potential. The company has demonstrated financial stability, maintaining dividend payments for 54 consecutive years, with a current yield of 3.21%.
KeyBanc adjusted its earnings estimates for Myers Industries, reducing its FY25 EPS forecast to $1.01 from $1.05, primarily due to challenging third-quarter comparisons for the company’s Scepter gas can product line, which faces headwinds from the absence of major hurricanes making U.S. landfall this year.
The firm also lowered its FY26 EPS projection to $1.47 from $1.53, citing the lower FY25 base and modest sales growth reductions in the Material Handling segment.
KeyBanc noted that Myers Industries is currently trading at 11.4 times its FY26 earnings estimate, compared to the company’s seven-year average multiple of 14.3 times.
In other recent news, Myers Industries reported its second-quarter 2025 earnings, which fell short of expectations. The company posted an earnings per share (EPS) of $0.31, missing the forecasted $0.33, and its revenue came in at $209.6 million, below the anticipated $224.2 million. Additionally, Myers Industries announced a quarterly cash dividend of $0.135 per share, payable on October 2, 2025, to shareholders of record as of September 12, 2025. In another development, the company appointed Samantha Rutty as Executive Vice President and Chief Financial Officer, effective September 22, 2025. Rutty brings experience from her previous role at The Brink’s Company, where she served as Vice President and Chief Financial Officer of Brink’s North America. These recent developments highlight the company’s ongoing strategic decisions and financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.