$742.81 Million in Sales Expected for MSC Industrial Direct Company, Inc. (MSM) This Quarter
Brokerages expect MSC Industrial Direct Company, Inc. (NYSE:MSM) to post $742.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for MSC Industrial Direct’s earnings. The highest sales estimate is $753.00 million and the lowest is $737.91 million. MSC Industrial Direct reported sales of $745.07 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.3%. The business is expected to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that MSC Industrial Direct will report full-year sales of $742.81 million for the current financial year, with estimates ranging from $2.87 billion to $2.89 billion. For the next year, analysts expect that the company will post sales of $3.08 billion per share, with estimates ranging from $3.02 billion to $3.21 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.09. The business had revenue of $743.90 million for the quarter, compared to analysts’ expectations of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS.
MSM has been the topic of a number of recent research reports. BidaskClub downgraded MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Robert W. Baird restated a “neutral” rating and set a $85.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a research report on Thursday, July 13th. J P Morgan Chase & Co began coverage on MSC Industrial Direct in a research report on Friday, June 2nd. They set an “overweight” rating and a $91.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $78.00 price target (down from $88.00) on shares of MSC Industrial Direct in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $91.75.
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MSC Industrial Direct (NYSE MSM) opened at 72.00 on Friday. The firm has a 50-day moving average price of $69.40 and a 200-day moving average price of $84.41. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70. The stock has a market capitalization of $4.10 billion, a PE ratio of 17.96 and a beta of 0.51.
In other news, Director Philip Peller acquired 1,000 shares of MSC Industrial Direct stock in a transaction on Wednesday, July 19th. The shares were bought at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the acquisition, the director now directly owns 2,422 shares of the company’s stock, valued at approximately $174,384. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 31.28% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSM. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MSC Industrial Direct by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 123 shares during the period. PNC Financial Services Group Inc. increased its holdings in MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 8 shares during the period. QS Investors LLC increased its holdings in MSC Industrial Direct by 0.5% during the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 8 shares during the period. Invictus RG increased its holdings in MSC Industrial Direct by 796.7% during the 1st quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 1,442 shares during the period. Finally, Numeric Investors LLC purchased a new position in MSC Industrial Direct during the 2nd quarter worth $206,000. Institutional investors own 75.69% 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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