Brokerages Anticipate MSC Industrial Direct Co., Inc. (NYSE:MSM) Will Announce Earnings of $1.72 Per Share

Brokerages expect MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) to announce earnings of $1.72 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for MSC Industrial Direct’s earnings. The highest EPS estimate is $1.77 and the lowest is $1.59. MSC Industrial Direct reported earnings of $1.42 per share in the same quarter last year, which would suggest a positive year over year growth rate of 21.1%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that MSC Industrial Direct will report full-year earnings of $6.02 per share for the current fiscal year, with EPS estimates ranging from $5.70 to $6.20. For the next fiscal year, analysts forecast that the company will report earnings of $6.37 per share, with EPS estimates ranging from $5.95 to $6.70. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSMGet Rating) last posted its earnings results on Wednesday, March 30th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.06. MSC Industrial Direct had a net margin of 8.70% and a return on equity of 24.70%. The business had revenue of $862.50 million for the quarter, compared to analyst estimates of $856.03 million. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis.

Several equities analysts have commented on the stock. Loop Capital raised their price target on shares of MSC Industrial Direct from $88.00 to $93.00 in a research report on Thursday, March 31st. KeyCorp boosted their price target on shares of MSC Industrial Direct from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, March 31st. StockNews.com lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “sell” rating to a “hold” rating and set a $96.00 price objective on the stock in a research note on Saturday, April 2nd. Finally, Robert W. Baird lifted their price objective on shares of MSC Industrial Direct from $103.00 to $105.00 in a research note on Thursday, March 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $101.17.

Shares of NYSE MSM opened at $84.53 on Friday. The company has a 50 day simple moving average of $80.86 and a 200-day simple moving average of $82.48. The company has a market capitalization of $4.72 billion, a P/E ratio of 15.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.37 and a quick ratio of 1.27. MSC Industrial Direct has a 1 year low of $74.20 and a 1 year high of $96.23.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 26th. Investors of record on Tuesday, April 12th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Monday, April 11th. MSC Industrial Direct’s payout ratio is 56.71%.

In other MSC Industrial Direct news, EVP Steven N. Baruch sold 15,188 shares of the stock in a transaction that occurred on Wednesday, February 2nd. The shares were sold at an average price of $83.95, for a total transaction of $1,275,032.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Douglas E. Jones sold 31,635 shares of the stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $86.00, for a total transaction of $2,720,610.00. The disclosure for this sale can be found here. Corporate insiders own 28.28% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. OLD Republic International Corp increased its position in shares of MSC Industrial Direct by 8.3% in the third quarter. OLD Republic International Corp now owns 666,000 shares of the industrial products company’s stock worth $53,407,000 after acquiring an additional 51,000 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of MSC Industrial Direct by 13.0% in the fourth quarter. Verdence Capital Advisors LLC now owns 15,866 shares of the industrial products company’s stock worth $1,334,000 after acquiring an additional 1,821 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of MSC Industrial Direct in the third quarter worth $10,022,000. California State Teachers Retirement System grew its holdings in MSC Industrial Direct by 0.8% during the 3rd quarter. California State Teachers Retirement System now owns 77,325 shares of the industrial products company’s stock valued at $6,201,000 after purchasing an additional 583 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in MSC Industrial Direct by 16.5% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,138,999 shares of the industrial products company’s stock valued at $91,337,000 after purchasing an additional 161,647 shares in the last quarter. 75.61% of the stock is owned by institutional investors.

About MSC Industrial Direct (Get Rating)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

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