MSC Industrial Direct Company, Inc. to Post Q3 2018 Earnings of $1.21 Per Share, Northcoast Research Forecasts (MSM)
MSC Industrial Direct Company, Inc. (NYSE:MSM) – Analysts at Northcoast Research dropped their Q3 2018 earnings per share (EPS) estimates for MSC Industrial Direct in a research note issued to investors on Wednesday. Northcoast Research analyst R. Cieslak now expects that the industrial products company will post earnings of $1.21 per share for the quarter, down from their previous forecast of $1.22. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2018 earnings at $1.15 EPS.
A number of other brokerages also recently issued reports on MSM. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, September 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $84.00 price target on shares of MSC Industrial Direct in a research report on Friday. BMO Capital Markets reaffirmed a “market perform” rating on shares of MSC Industrial Direct in a research report on Tuesday, September 12th. Credit Suisse Group dropped their price target on MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating on the stock in a research report on Thursday, July 13th. Finally, BidaskClub cut MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. MSC Industrial Direct has a consensus rating of “Hold” and a consensus target price of $89.29.
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MSC Industrial Direct (NYSE MSM) traded down $0.04 during midday trading on Monday, hitting $81.92. The stock had a trading volume of 49,998 shares, compared to its average volume of 630,655. The stock has a market cap of $4,621.81, a P/E ratio of 20.29, a P/E/G ratio of 1.61 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.80 and a quick ratio of 0.97.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The firm had revenue of $753.80 million during the quarter, compared to the consensus estimate of $745.80 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in shares of MSC Industrial Direct by 114.6% in the 3rd quarter. Sei Investments Co. now owns 63,342 shares of the industrial products company’s stock valued at $4,787,000 after purchasing an additional 33,819 shares during the period. Telemus Capital LLC purchased a new position in MSC Industrial Direct during the third quarter valued at $1,950,000. Principal Financial Group Inc. raised its stake in MSC Industrial Direct by 126.7% during the third quarter. Principal Financial Group Inc. now owns 441,321 shares of the industrial products company’s stock valued at $33,350,000 after buying an additional 246,659 shares during the last quarter. Prudential Financial Inc. raised its stake in MSC Industrial Direct by 7.4% during the third quarter. Prudential Financial Inc. now owns 203,732 shares of the industrial products company’s stock valued at $15,396,000 after buying an additional 14,046 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in MSC Industrial Direct by 1,889.6% during the third quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after buying an additional 1,993,717 shares during the last quarter. Institutional investors own 74.12% of the company’s stock.
In other news, Director Mitchell Jacobson sold 33,866 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $82.39, for a total value of $2,790,219.74. Following the completion of the transaction, the director now owns 35,932 shares in the company, valued at approximately $2,960,437.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 31.28% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Monday, November 13th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.45. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 44.55%.
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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