FY2024 EPS Estimate for Miller Industries Boosted by Analyst

Miller Industries, Inc. (NYSE:MLR - Free Report) - Equities researchers at DA Davidson increased their FY2024 EPS estimates for Miller Industries in a research note issued on Friday, November 15th. DA Davidson analyst M. Shlisky now anticipates that the auto parts company will earn $5.68 per share for the year, up from their previous forecast of $5.60. DA Davidson currently has a "Buy" rating and a $82.00 target price 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.

Separately, StockNews.com lowered shares of Miller Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th.

Miller Industries Stock Up 1.4 %

Shares of MLR stock traded up $0.95 on Monday, hitting $67.11. The stock had a trading volume of 58,204 shares, compared to its average volume of 76,218. The stock has a market cap of $767.74 million, a price-to-earnings ratio of 10.97 and a beta of 0.94. The business has a 50 day moving average of $63.98 and a 200 day moving average of $60.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.44. Miller Industries has a 12-month low of $38.33 and a 12-month high of $78.25.

Miller Industries (NYSE:MLR - Get Free Report) last announced its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33. The company had revenue of $314.27 million during 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 prior year, the company earned $1.52 EPS.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, December 2nd. Miller Industries's payout ratio is 12.60%.

Hedge Funds Weigh In On Miller Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AdvisorShares Investments LLC lifted its stake in Miller Industries by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company's stock valued at $7,426,000 after acquiring an additional 9,384 shares during the period. Narwhal Capital Management lifted its stake in Miller Industries by 31.2% during the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company's stock valued at $6,928,000 after acquiring an additional 26,983 shares during the period. XTX Topco Ltd bought a new position in Miller Industries during the 2nd quarter valued at about $468,000. Summit Global Investments bought a new position in Miller Industries during the 3rd quarter valued at about $611,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Miller Industries by 2.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company's stock valued at $452,000 after acquiring an additional 201 shares during the period. Institutional investors own 79.24% of the company's stock.

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.