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Can Myers (MYE) Run Higher on Strong Earnings Estimate Revisions?
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Myers Industries, Inc. (MYE - Free Report) manufactures and sells polymer products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MYE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Myers could be a solid choice for investors.
Current Quarter Estimates for MYE
In the past 30 days, 1 estimate has gone higher for Myers while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 7 cents a share 30 days ago, to 13 cents today, a move of 85.7%.
Current Year Estimates for MYE
Meanwhile, Myers’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 40 cents per share 30 days ago to 44 cents per share today, an increase of 10%.
The stock has also started to move higher lately, adding 6.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Can Myers (MYE) Run Higher on Strong Earnings Estimate Revisions?
Myers Industries, Inc. (MYE - Free Report) manufactures and sells polymer products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MYE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Myers could be a solid choice for investors.
Current Quarter Estimates for MYE
In the past 30 days, 1 estimate has gone higher for Myers while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 7 cents a share 30 days ago, to 13 cents today, a move of 85.7%.
Current Year Estimates for MYE
Meanwhile, Myers’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 40 cents per share 30 days ago to 44 cents per share today, an increase of 10%.
Myers Industries, Inc. Price and Consensus
Myers Industries, Inc. Price and Consensus | Myers Industries, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 6.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>