How to Buy Myers Industries Stock
Myers Industries Inc
Myers Industries is a packaging & container company located in Ohio, United States, which is part of the Consumer Cyclical sector, and is traded under the ticker MYE on the NYSE exchange.
Myers Industries stock last closed at $13.61, down 2.92% from the previous day, and has decreased 23.28% in one year. It has underperformed other stocks in the Packaging & Containers industry by 0.37 percentage points. Myers Industries stock is currently +9.14% from its 52-week low of $12.47, and -42.4% from its 52-week high of $23.63.
As of Sep 9, 2024, there are 37.22M MYE shares outstanding. The market value of MYE is $506.59M. In the last 24 hours, 292,127 MYE shares were traded.
How to Buy Myers Industries Stock
Not sure how to invest in Myers Industries stock? Here's how.
- Decide where to buy Myers Industries stock: You need to decide on a stock brokerage, but don't worry - we've sifted through dozens of online stock brokerages and apps to help you choose where to buy Myers Industries stock.
- Create a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
- Deposit funds into your investment account: Choose your method of payment and add your information.
- Evaluate Myers Industries stock: The Myers Industries ticker symbol is MYE. Is Myers Industries stock a good investment? Should you buy shares of MYE? How do MYE's underlying business fundamentals look? Do top analysts think Myers Industries is a good buy? Why has MYE's stock price moved recently? (Hint: Our stock research website can help you figure out if MYE is a good stock to buy).
- Make your MYE trade: Decide if you will purchase MYE shares at the current market price or use a limit order to purchase MYE stock at a specific price.
- Monitor your investment in MYE: Create a watchlist to the latest updates on your new investment in Myers Industries stock.
Step 1: Decide where to buy Myers Industries stock
You need a brokerage account to access the NYSE market and buy MYE shares.
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Open eToro AccountStep 2: Create a brokerage account
Now that you've chosen the best brokerage, it's time to fill out some personal info so you are able to buy MYE stock today.
How to Set Up a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal details to open a new brokerage account.
- Send your info by pressing the "Create Account" button. Get started with eToro today
Step 3: Deposit funds into your investment account
Now that you have finished signing up on stock apps to use, you can securely and quickly fund your account:
Watch this video walkthrough for more details transferring funds into your investment account.
Step 4: Evaluate Myers Industries stock
Once you have chosen the best place to buy Myers Industries stock, it's very important to research their stock prior to buying, so you truly understand the risk and opportunity.
Myers Industries Numbers
MYE Fundamentals
WallStreetZen was built to help average investors perform more in-depth fundamental analysis in minutes instead of hours.
You can view all of the due diligence checks on MYE's stock page.
How is MYE stock valued?
Analysts use many financial metrics, analyses, models, and charts to gauge MYE's true value.
Using relative valuations metrics:
- MYE could be undervalued based on its P/E ratio of 12.84x, relative to Packaging & Containers industry P/E ratio of 17.39x
- MYE could be undervalued based on its P/B ratio of 1.72x, relative to Packaging & Containers industry P/B ratio of 3.21x
- MYE could be overvalued based on its PEG ratio of 2.58x
You can access more valuation analysis on MYE's stock here.
A look at MYE Cashflows and Balance Sheet
Signs that MYE is financially healthy:
- There are more short-term assets than short-term liabilities on the MYE balance sheet.
Signs that MYE is not financially healthy:
- MYE has a relatively high debt to equity ratio of 2.23.
- MYE's operating cash flow of $72.15M allows it to safely service it's debt of $440.19M.
- Total MYE debt is higher than 5 years ago, relative to shareholder equity.
- MYE profit margin has gone down from 5.9% to 4.8% in the past year.
- There are more long-term liabilities than short-term assets on the MYE balance sheet.
- MYE earnings of $71.91M is not enough to cover its interest payments.
Is Myers Industries stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 1 sell side analysts who give forecasts on MYE, the consensus analyst rating on MYE is a Strong Buy
It's important to note that analyst forecasts are not recommendations, nor are they financial advice.
You can dive deeper into what analysts are forecasting on the Myers Industries stock forecast page.
MYE Trading Indicators
How are MYE Revenues/Earnings doing?
Last year, MYE earnings were $39.07M. In the past 4 year, MYE's earnings have increased by 1.22% per year. This was slower than the Packaging & Containers industry average of 9.63%.
Last year, MYE revenue was $816.21M. In the past 5 year, MYE's revenue has increased by 8.33% per year. This was faster than the Packaging & Containers industry average of 3.74%.
Find out more about MYE's earnings and revenue performance here.
What are MYE executives and large shareholders up to?
In the past year, insiders at MYE have sold more shares than they have bought.
Michael McGaugh, President and CEO of MYE, was the latest MYE insider to buy. They bought $39,000.00 worth of MYE stock on May 23, 2024.
Dig into more about who owns MYE shares here.
Does MYE provide a stable income stream?
Myers Industries pays a dividend of 3.97%, compared to the Packaging & Containers industry's average dividend yield of 2.13%. If you owned $1,000 worth of MYE stock, you would have received $39.68 in the past 12 months.
Myers Industries dividend payments have consistently grown over the past decade and have remained stable.
Dig into more analysis about Myers Industries dividend yield and history here.
MYE Social Trading Data
One of the reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to see what other community members have to say.
Step 5: Make your MYE trade
You have two main order types:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are generally the easiest way to buy. - Limit order: A limit order lets you buy or sell a security at a specific price (or better).
If you want to ensure you're buying or selling at an exact dollar amount limit, use a limit order.
Click the Open button and eToro will execute your order.
If you want more assistance investing in stocks on eToro, click the helpful video below:
Step 6: Monitor your investment in MYE
Now that you own some MYE stock, you'll want to keep up with your new stock purchase.
Start a watchlist to see the latest developments about your MYE stock.
MYE Feed
How to Buy Stock in Myers Industries
To reiterate, here are the 6 steps to buy Myers Industries stock:
- Decide where to buy Myers Industries stock
- Create a brokerage account
- Deposit funds into your investment account
- Evaluate Myers Industries stock
- Make your MYE trade
- Monitor your investment in MYE
If you need a brokerage, eToro is our recommended venue.
Get Started with eToro TodayIf you would like to get updates on your new investment in Myers Industries, add MYE to your watchlist by clicking the button below.
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