Equities research analysts forecast that MSC Industrial Direct Co Inc (NYSE:MSM) will announce $767.83 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued 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 posted sales of $703.78 million during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is expected to issue its next earnings results before the market opens 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 fiscal year, analysts forecast that the firm will post sales of $3.38 billion per share, with estimates ranging from $3.31 billion to $3.45 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last released 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 the consensus estimate of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS.
MSC Industrial Direct (NYSE:MSM) opened at $93.42 on Tuesday. MSC Industrial Direct has a 1-year low of $65.42 and a 1-year high of $104.59. 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 stock has a market capitalization of $5,272.99, a price-to-earnings ratio of 22.57, a P/E/G ratio of 1.36 and a beta of 0.64.
MSC Industrial Direct announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 10th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other MSC Industrial Direct news, SVP Christopher Davanzo sold 12,046 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $93.43, for a total value of $1,125,457.78. Following the completion of the sale, the senior vice president now directly owns 12,432 shares in the company, valued at approximately $1,161,521.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Charles Bonomo sold 1,800 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $92.19, for a total value of $165,942.00. The disclosure for this sale can be found here. Insiders sold a total of 783,437 shares of company stock valued at $74,083,049 over the last quarter. Company insiders own 31.38% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of MSC Industrial Direct by 105.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock worth $89,112,000 after purchasing an additional 604,873 shares during the last quarter. Anchor Bolt Capital LP purchased a new stake in shares of MSC Industrial Direct during the 4th quarter worth $37,496,000. Schroder Investment Management Group lifted its stake in shares of MSC Industrial Direct by 52.7% during the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock worth $72,250,000 after purchasing an additional 332,893 shares during the last quarter. Raymond James & Associates lifted its stake in shares of MSC Industrial Direct by 653.3% during the 4th quarter. Raymond James & Associates now owns 306,544 shares of the industrial products company’s stock worth $29,631,000 after purchasing an additional 265,850 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of MSC Industrial Direct by 126.7% during the 3rd quarter. Principal Financial Group Inc. now owns 441,321 shares of the industrial products company’s stock worth $33,350,000 after purchasing an additional 246,659 shares during the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.
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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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