MSC Industrial Direct Company, Inc. (MSM) Expected to Post Quarterly Sales of $744.84 Million
Equities research analysts expect MSC Industrial Direct Company, Inc. (NYSE:MSM) to post sales of $744.84 million for the current quarter, Zacks reports. Eight analysts have made estimates for MSC Industrial Direct’s earnings, with the highest sales estimate coming in at $753.00 million and the lowest estimate coming in at $737.91 million. MSC Industrial Direct posted sales of $745.07 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that MSC Industrial Direct will report full-year sales of $744.84 million for the current financial year, with estimates ranging from $2.87 billion to $2.89 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.10 billion per share, with estimates ranging from $3.02 billion to $3.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The business had revenue of $743.90 million for the quarter, compared to analysts’ expectations of $744.49 million. During the same period in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis.
A number of brokerages recently weighed in on MSM. Zacks Investment Research cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Susquehanna Bancshares Inc began coverage on shares of MSC Industrial Direct in a research note on Monday, September 25th. They set a “neutral” rating and a $77.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 17th. BMO Capital Markets restated a “market perform” rating on shares of MSC Industrial Direct in a research note on Tuesday, September 12th. Finally, TheStreet cut shares of MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $89.38.
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MSC Industrial Direct (NYSE:MSM) traded up 1.26% during trading on Thursday, hitting $75.52. 166,775 shares of the stock were exchanged. The stock’s 50 day moving average is $70.85 and its 200-day moving average is $81.64. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 18.83 and a beta of 0.54. MSC Industrial Direct has a one year low of $65.42 and a one year high of $105.70.
In related news, Director Philip Peller purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were purchased at an average price of $72.00 per share, with a total value of $72,000.00. Following the purchase, the director now owns 2,422 shares of the company’s stock, valued at approximately $174,384. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 31.28% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd increased its stake in MSC Industrial Direct by 52.2% in the 2nd quarter. WINTON GROUP Ltd now owns 53,402 shares of the industrial products company’s stock worth $4,590,000 after purchasing an additional 18,313 shares in the last quarter. Koch Industries Inc. increased its stake in MSC Industrial Direct by 10,738.5% in the 2nd quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 281,994 shares in the last quarter. Grandeur Peak Global Advisors LLC increased its stake in MSC Industrial Direct by 73.4% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 147,425 shares of the industrial products company’s stock worth $12,673,000 after purchasing an additional 62,425 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in MSC Industrial Direct by 2.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,492 shares of the industrial products company’s stock worth $1,160,000 after purchasing an additional 271 shares in the last quarter. Finally, DF Dent & Co. Inc. purchased a new position in MSC Industrial Direct in the 2nd quarter worth about $275,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
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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