DA Davidson Predicts Stronger Earnings for Miller Industries

Miller Industries, Inc. (NYSE:MLR) – Investment analysts at DA Davidson raised their FY2024 earnings estimates for Miller Industries in a research report issued on Friday, November 15th. DA Davidson analyst M. Shlisky now expects that the auto parts company will earn $5.68 per share for the year, up from their prior 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.

Miller Industries (NYSE:MLR) last posted its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, hitting analysts’ consensus estimates of $1.33. The business had revenue of $314.27 million during the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same period in the previous year, the business posted $1.52 EPS.

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

Miller Industries Price Performance

NYSE MLR opened at $67.25 on Monday. Miller Industries has a one year low of $38.33 and a one year high of $78.25. The stock 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 quick ratio of 1.44 and a current ratio of 2.12. The company has a market capitalization of $769.34 million, a price-to-earnings ratio of 10.97 and a beta of 0.94.

Miller Industries Announces Dividend

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

Institutional Trading of Miller Industries

Several large investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Miller Industries in the second quarter worth about $39,000. Point72 DIFC Ltd boosted its holdings 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 during the last quarter. EntryPoint Capital LLC grew its position in Miller Industries by 101.3% during the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after buying an additional 913 shares during the period. Quest Partners LLC bought a new stake in Miller Industries during the second quarter valued at approximately $200,000. Finally, Lakewood Asset Management LLC purchased a new stake in Miller Industries during the third quarter valued at approximately $250,000. Institutional investors own 79.24% of the company’s stock.

About Miller Industries

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.