MSC Industrial Direct Co Inc (MSM) Expected to Post Quarterly Sales of $767.83 Million

Wall Street brokerages predict that MSC Industrial Direct Co Inc (NYSE:MSM) will report sales of $767.83 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for MSC Industrial Direct’s earnings, with the lowest sales estimate coming in at $764.00 million and the highest estimate coming in at $771.00 million. MSC Industrial Direct reported sales of $703.78 million in the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The company is scheduled to report its next quarterly earnings results on Thursday, April 5th.

On average, 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 financial year, analysts expect that the business will report sales of $3.38 billion per share, with estimates ranging from $3.31 billion to $3.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover MSC Industrial Direct.

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

Several analysts have recently issued reports on MSM shares. Credit Suisse Group set a $100.00 price objective on shares of MSC Industrial Direct and gave the company a “buy” rating in a research note on Monday, December 4th. Gabelli raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price objective 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 price target for the company in a research report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $93.00 price target on shares of MSC Industrial Direct in a research report on Monday, December 11th. Finally, Northcoast Research raised shares of MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $95.92.

In other news, EVP Steven N. Baruch sold 5,762 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $81.25, for a total value of $468,162.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mitchell Jacobson sold 11,121 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $80.79, for a total transaction of $898,465.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 961,530 shares of company stock worth $88,445,139. Company insiders own 31.38% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Westpac Banking Corp raised its stake in shares of MSC Industrial Direct by 14.8% in the 3rd quarter. Westpac Banking Corp now owns 79,800 shares of the industrial products company’s stock valued at $6,030,000 after purchasing an additional 10,300 shares in the last quarter. Alpha Windward LLC acquired a new stake in shares of MSC Industrial Direct in the 3rd quarter valued at about $521,000. Janus Henderson Group PLC acquired a new stake in shares of MSC Industrial Direct in the 2nd quarter valued at about $12,989,000. Dimensional Fund Advisors LP raised its stake in shares of MSC Industrial Direct by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 467,125 shares of the industrial products company’s stock valued at $40,153,000 after purchasing an additional 45,196 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of MSC Industrial Direct by 7.4% in the 3rd quarter. Prudential Financial Inc. now owns 203,732 shares of the industrial products company’s stock valued at $15,396,000 after purchasing an additional 14,046 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

Shares of MSC Industrial Direct (NYSE:MSM) opened at $90.61 on Wednesday. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70. The stock has a market cap of $5,158.38, a price-to-earnings ratio of 21.89, a PEG ratio of 1.34 and a beta of 0.59. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, January 12th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s dividend payout ratio is 56.04%.

MSC Industrial Direct announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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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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