$743.48 Million in Sales Expected for MSC Industrial Direct Co Inc (MSM) This Quarter
Analysts predict that MSC Industrial Direct Co Inc (NYSE:MSM) will report sales of $743.48 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for MSC Industrial Direct Co’s earnings, with the lowest sales estimate coming in at $741.65 million and the highest estimate coming in at $746.12 million. MSC Industrial Direct Co posted sales of $727.5 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The company is expected to issue its next quarterly earnings report on Wednesday, July 5th.
According to Zacks, analysts expect that MSC Industrial Direct Co will report full-year sales of $743.48 million for the current year, with estimates ranging from $2.85 billion to $2.88 billion. For the next financial year, analysts forecast that the company will report sales of $3.02 billion per share, with estimates ranging from $2.98 billion to $3.07 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for MSC Industrial Direct Co.
MSC Industrial Direct Co (NYSE:MSM) last released its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.03. MSC Industrial Direct Co had a net margin of 8.10% and a return on equity of 18.33%. The company earned $703.78 million during the quarter, compared to the consensus estimate of $697.85 million. During the same period in the previous year, the firm earned $0.80 earnings per share. MSC Industrial Direct Co’s revenue for the quarter was up 2.9% on a year-over-year basis.
A number of equities analysts recently commented on the company. Raymond James Financial, Inc. upgraded MSC Industrial Direct Co from a “market perform” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, April 19th. BMO Capital Markets restated a “hold” rating and issued a $98.00 price objective on shares of MSC Industrial Direct Co in a report on Thursday, February 23rd. Credit Suisse Group AG upgraded MSC Industrial Direct Co from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $100.00 in a report on Wednesday, April 19th. Barclays PLC restated a “sell” rating and issued a $85.00 price objective on shares of MSC Industrial Direct Co in a report on Friday, April 7th. Finally, Stifel Nicolaus dropped their price objective on MSC Industrial Direct Co from $104.00 to $89.00 and set a “hold” rating on the stock in a report on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $96.18.
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In other MSC Industrial Direct Co news, EVP Douglas E. Jones sold 19,807 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $104.50, for a total transaction of $2,069,831.50. Following the transaction, the executive vice president now owns 29,579 shares in the company, valued at $3,091,005.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kari D. Heerdt sold 3,563 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $104.42, for a total value of $372,048.46. Following the transaction, the senior vice president now owns 8,961 shares in the company, valued at approximately $935,707.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,312 shares of company stock worth $2,752,261. Corporate insiders own 31.28% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC bought a new stake in shares of MSC Industrial Direct Co during the third quarter valued at about $103,000. Simplex Trading LLC bought a new stake in shares of MSC Industrial Direct Co during the first quarter valued at about $139,000. Riverhead Capital Management LLC increased its stake in shares of MSC Industrial Direct Co by 130.9% in the third quarter. Riverhead Capital Management LLC now owns 1,930 shares of the industrial products company’s stock valued at $142,000 after buying an additional 1,094 shares during the last quarter. Fred Alger Management Inc. bought a new stake in shares of MSC Industrial Direct Co during the fourth quarter valued at about $148,000. Finally, Parametrica Management Ltd bought a new stake in shares of MSC Industrial Direct Co during the first quarter valued at about $205,000. Institutional investors own 80.99% of the company’s stock.
Shares of MSC Industrial Direct Co (NYSE:MSM) opened at 89.59 on Friday. The firm’s 50-day moving average is $95.08 and its 200 day moving average is $93.35. The stock has a market capitalization of $5.10 billion, a P/E ratio of 22.56 and a beta of 0.56. MSC Industrial Direct Co has a 1-year low of $67.74 and a 1-year high of $105.70.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 2nd. Shareholders of record on Tuesday, April 18th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, April 13th. This represents a $1.80 annualized dividend and a yield of 2.01%. MSC Industrial Direct Co’s dividend payout ratio (DPR) is presently 47.12%.
About MSC Industrial Direct Co
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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