MSC Industrial Direct Price Target Cut to $78.00 (MSM)
Equities research analysts at Barclays lowered their price objective on shares of MSC Industrial Direct (NYSE:MSM) from $82.00 to $78.00 in a research note issued to investors on Thursday, American Banking & Market News reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective suggests a potential upside of 0.50% from the stock’s previous close.
MSC Industrial Direct (NYSE:MSM) traded down 0.08% during mid-day trading on Thursday, hitting $77.55. 586,626 shares of the company’s stock traded hands. MSC Industrial Direct has a 52-week low of $65.46 and a 52-week high of $87.92. The stock has a 50-day moving average of $80.94 and a 200-day moving average of $80.14. The company has a market cap of $4.916 billion and a price-to-earnings ratio of 19.62.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.05. The company had revenue of $673.80 million for the quarter, compared to the consensus estimate of $668.50 million. During the same quarter last year, the company posted $1.11 earnings per share. MSC Industrial Direct’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that MSC Industrial Direct will post $3.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 20th. Investors of record on Wednesday, November 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, November 4th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.30.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird downgraded shares of MSC Industrial Direct from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $87.00 price target on the stock, down previously from $99.00. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $88.56.
MSC Industrial Direct Co, Inc (NYSE:MSM) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.