Miller Industries, Inc. (NYSE:MLR) to Post Q3 2024 Earnings of $1.33 Per Share, DA Davidson Forecasts

Miller Industries, Inc. (NYSE:MLR) – Analysts at DA Davidson issued their Q3 2024 earnings estimates for Miller Industries in a research note issued on Wednesday, October 2nd. DA Davidson analyst M. Shlisky anticipates that the auto parts company will post earnings per share of $1.33 for the quarter. DA Davidson has a “Buy” rating and a $82.00 price objective on the stock. DA Davidson also issued estimates for Miller Industries’ FY2024 earnings at $5.60 EPS and FY2025 earnings at $5.90 EPS.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. The firm had revenue of $371.45 million for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%.

Separately, StockNews.com cut shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th.

Miller Industries Stock Performance

MLR opened at $61.99 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. Miller Industries has a 52-week low of $34.96 and a 52-week high of $69.75. The firm has a market cap of $711.03 million, a P/E ratio of 10.82 and a beta of 0.96. The business’s fifty day moving average is $60.48 and its 200-day moving average is $57.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its holdings in shares of Miller Industries by 2.5% during 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 period. Ellsworth Advisors LLC increased its holdings in Miller Industries by 4.9% in the second quarter. Ellsworth Advisors LLC now owns 11,431 shares of the auto parts company’s stock worth $629,000 after purchasing an additional 531 shares in the last quarter. Point72 DIFC Ltd boosted its holdings in shares of Miller Industries by 146.9% during the 2nd 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. Innealta Capital LLC acquired a new position in Miller Industries during the second quarter worth $39,000. Finally, Kennedy Capital Management LLC grew its holdings in shares of Miller Industries by 2.4% during the first quarter. Kennedy Capital Management LLC now owns 36,707 shares of the auto parts company’s stock valued at $1,839,000 after buying an additional 853 shares during the last quarter. Institutional investors own 79.24% of the company’s stock.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, September 9th. Miller Industries’s dividend payout ratio is presently 13.26%.

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.