FY2024 EPS Estimate for Miller Industries Lifted by Analyst

Miller Industries, Inc. (NYSE:MLR) – Analysts at DA Davidson upped their FY2024 earnings estimates for shares of Miller Industries in a research report issued to clients and investors on Friday, November 15th. DA Davidson analyst M. Shlisky now expects that the auto parts company will post earnings per share of $5.68 for the year, up from their prior estimate of $5.60. DA Davidson has a “Buy” rating and a $82.00 price objective on the stock. The consensus estimate for Miller Industries’ current full-year earnings is $5.68 per share. DA Davidson also issued estimates for Miller Industries’ Q4 2024 earnings at $1.09 EPS and FY2025 earnings at $5.94 EPS.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33. The firm had revenue of $314.27 million for the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same quarter in the previous year, the business earned $1.52 earnings per share.

Separately, StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Miller Industries Price Performance

NYSE:MLR opened at $67.25 on Monday. The business’s 50-day simple moving average is $63.98 and its two-hundred day simple moving average is $60.78. Miller Industries has a 52 week low of $38.33 and a 52 week high of $78.25. The stock has a market cap of $769.34 million, a PE ratio of 10.97 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Monday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Hedge Funds Weigh In On Miller Industries

Institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC lifted its stake in Miller Industries by 3.5% in the 3rd quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock worth $352,000 after purchasing an additional 194 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Miller Industries by 2.5% in the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock worth $452,000 after purchasing an additional 201 shares during the last quarter. Ellsworth Advisors LLC lifted its position in shares of Miller Industries by 3.6% in the third quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock worth $722,000 after buying an additional 411 shares in the last quarter. Point72 DIFC Ltd lifted its position in shares of Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Miller Industries during the second quarter valued at approximately $39,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.