MSC Industrial Direct Company, Inc. (MSM) Expected to Post Earnings of $0.99 Per Share
Equities analysts predict that MSC Industrial Direct Company, Inc. (NYSE:MSM) will announce earnings per share (EPS) of $0.99 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for MSC Industrial Direct’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.01. MSC Industrial Direct reported earnings per share of $1.02 in the same quarter last year, which would indicate a negative year over year growth rate of 2.9%. The business is expected to report its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that MSC Industrial Direct will report full-year earnings of $3.97 per share for the current year, with EPS estimates ranging from $3.95 to $4.00. For the next fiscal year, analysts anticipate that the company will report earnings of $4.35 per share, with EPS estimates ranging from $4.20 to $4.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.09. The company had revenue of $743.90 million for the quarter, compared to the consensus estimate of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS.
Several analysts recently issued reports on the company. J P Morgan Chase & Co cut MSC Industrial Direct from an “overweight” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research note on Friday. Zacks Investment Research raised MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub cut MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Northcoast Research assumed coverage on MSC Industrial Direct in a research note on Tuesday, July 25th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets cut their target price on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating on the stock in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. MSC Industrial Direct currently has a consensus rating of “Hold” and a consensus price target of $90.85.
Shares of MSC Industrial Direct (NYSE:MSM) traded down 0.2242% on Tuesday, hitting $70.1524. The stock had a trading volume of 268,186 shares. The firm has a 50 day moving average of $79.96 and a 200-day moving average of $91.87. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 17.4944 and a beta of 0.50. MSC Industrial Direct has a 1-year low of $69.61 and a 1-year high of $105.70.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $1.80 annualized dividend and a yield of 2.56%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 45.11%.
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In other MSC Industrial Direct news, Director Philip Peller bought 1,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was purchased at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the completion of the acquisition, the director now owns 2,422 shares of the company’s stock, valued at $174,384. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 31.28% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in MSC Industrial Direct by 43,914.6% in the first quarter. Acadian Asset Management LLC now owns 162,854 shares of the industrial products company’s stock valued at $16,735,000 after buying an additional 162,484 shares during the last quarter. Profund Advisors LLC raised its position in MSC Industrial Direct by 1.0% in the first quarter. Profund Advisors LLC now owns 6,577 shares of the industrial products company’s stock valued at $676,000 after buying an additional 63 shares during the last quarter. Nationwide Fund Advisors raised its position in MSC Industrial Direct by 1.0% in the first quarter. Nationwide Fund Advisors now owns 74,878 shares of the industrial products company’s stock valued at $7,694,000 after buying an additional 757 shares during the last quarter. Simplex Trading LLC acquired a new position in MSC Industrial Direct during the first quarter valued at about $139,000. Finally, Hermes Investment Management Ltd. raised its position in MSC Industrial Direct by 1.5% in the first quarter. Hermes Investment Management Ltd. now owns 384,951 shares of the industrial products company’s stock valued at $39,558,000 after buying an additional 5,610 shares during the last quarter. Hedge funds and other institutional investors own 76.83% of the company’s stock.
MSC Industrial Direct Company Profile
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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