FY2017 Earnings Forecast for MSC Industrial Direct Company, Inc. (MSM) Issued By Northcoast Research
MSC Industrial Direct Company, Inc. (NYSE:MSM) – Investment analysts at Northcoast Research boosted their FY2017 earnings per share estimates for shares of MSC Industrial Direct in a research note issued on Thursday. Northcoast Research analyst R. Cieslak now expects that the industrial products company will post earnings of $3.98 per share for the year, up from their previous forecast of $3.97. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2017 earnings at $1.01 EPS, Q1 2018 earnings at $1.03 EPS, Q2 2018 earnings at $0.98 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $4.40 EPS and FY2019 earnings at $4.85 EPS.
Several other research analysts also recently commented on the company. TheStreet downgraded MSC Industrial Direct from a “b” rating to a “c+” rating in a research report on Wednesday, August 16th. BidaskClub downgraded MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. J P Morgan Chase & Co started coverage on MSC Industrial Direct in a research report on Friday, June 2nd. They issued an “overweight” rating and a $91.00 price target on the stock. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Saturday, July 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of MSC Industrial Direct in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. MSC Industrial Direct presently has a consensus rating of “Hold” and an average target price of $91.75.
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Shares of MSC Industrial Direct (NYSE:MSM) opened at 72.06 on Friday. The firm has a market cap of $4.10 billion, a P/E ratio of 17.97 and a beta of 0.51. The firm has a 50-day moving average of $69.41 and a 200 day moving average of $84.62. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The company had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. During the same quarter last year, the company earned $1.05 earnings per share. MSC Industrial Direct’s revenue for the quarter was up 2.3% on a year-over-year basis.
In other news, Director Philip Peller acquired 1,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were acquired at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now owns 2,422 shares in the company, valued at approximately $174,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 31.28% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after buying an additional 123 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in MSC Industrial Direct by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after buying an additional 8 shares in the last quarter. QS Investors LLC boosted its stake in MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after buying an additional 8 shares in the last quarter. Invictus RG boosted its stake in MSC Industrial Direct by 796.7% in the 1st quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock valued at $167,000 after buying an additional 1,442 shares in the last quarter. Finally, Numeric Investors LLC acquired a new stake in MSC Industrial Direct in the 2nd quarter valued at $206,000. 75.69% of the stock is currently owned by institutional investors and hedge funds.
About MSC Industrial Direct
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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