Published on 6 Mar 2024 on Simply Wall St. via Yahoo Finance
Myers Industries, Inc.'s (NYSE:MYE) Sole Analyst Just Made A Notable Upgrade To Their Forecasts
Shareholders in Myers Industries, Inc. (NYSE:MYE) may be thrilled to learn that the covering analyst has just delivered a major upgrade to their near-term forecasts. The analyst greatly increased their revenue estimates, suggesting a stark improvement in business fundamentals. Myers Industries has also found favour with investors, with the stock up a noteworthy 12% to US$21.42 over the past week. We'll be curious to see if these new estimates convince the market to lift the stock price higher still.
Following the upgrade, the latest consensus from Myers Industries' single analyst is for revenues of US$949m in 2024, which would reflect a solid 17% improvement in sales compared to the last 12 months. Statutory earnings per share are forecast to be US$1.35, approximately in line with the last 12 months. Prior to this update, the analyst had been forecasting revenues of US$771m and earnings per share (EPS) of US$1.20 in 2024. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates.
See our latest analysis for Myers Industries