$767.83 Million in Sales Expected for MSC Industrial Direct Co Inc (MSM) This Quarter

Brokerages expect MSC Industrial Direct Co Inc (NYSE:MSM) to report $767.83 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for MSC Industrial Direct’s earnings. The highest sales estimate is $771.00 million and the lowest is $764.00 million. MSC Industrial Direct posted sales of $703.78 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, April 5th.

According to Zacks, analysts expect that MSC Industrial Direct will report full-year sales of $767.83 million for the current fiscal year, with estimates ranging from $3.15 billion to $3.25 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.38 billion per share, with estimates ranging from $3.31 billion to $3.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.01). The company had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS.

MSM has been the subject of several research analyst reports. Credit Suisse Group set a $93.00 target price on shares of MSC Industrial Direct and gave the stock a “buy” rating in a research note on Friday, October 6th. Gabelli raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Friday, October 13th. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $93.00 target price on shares of MSC Industrial Direct in a research note on Monday, December 11th. Finally, Northcoast Research raised shares of MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $95.54.

Shares of MSC Industrial Direct (NYSE:MSM) traded up $2.32 during mid-day trading on Monday, reaching $94.49. 906,600 shares of the company’s stock traded hands, compared to its average volume of 987,269. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $5,290.00, a price-to-earnings ratio of 22.77, a PEG ratio of 1.39 and a beta of 0.67. MSC Industrial Direct has a one year low of $65.42 and a one year high of $105.70.

MSC Industrial Direct declared that its board has approved a stock buyback plan on Wednesday, January 10th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be paid a $0.58 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.46%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 55.90%.

In related news, VP Charles Bonomo sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $92.19, for a total value of $165,942.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mitchell Jacobson sold 33,866 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $82.39, for a total transaction of $2,790,219.74. Following the completion of the sale, the director now directly owns 35,932 shares in the company, valued at approximately $2,960,437.48. The disclosure for this sale can be found here. In the last three months, insiders sold 352,829 shares of company stock valued at $30,393,158. Insiders own 31.38% of the company’s stock.

A number of large investors have recently modified their holdings of MSM. PNC Financial Services Group Inc. raised its holdings in MSC Industrial Direct by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares in the last quarter. Cutler Group LP raised its holdings in MSC Industrial Direct by 457.8% in the fourth quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 1,831 shares in the last quarter. QS Investors LLC raised its holdings in MSC Industrial Direct by 0.5% in the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares in the last quarter. Zions Bancorporation acquired a new stake in MSC Industrial Direct in the third quarter valued at approximately $150,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in MSC Industrial Direct by 1,373.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock valued at $167,000 after acquiring an additional 2,060 shares in the last quarter. 75.51% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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