Zacks: Analysts Anticipate MSC Industrial Direct Co Inc (MSM) to Post $1.39 EPS

Brokerages expect MSC Industrial Direct Co Inc (NYSE:MSM) to report earnings of $1.39 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for MSC Industrial Direct’s earnings, with estimates ranging from $1.37 to $1.42. MSC Industrial Direct reported earnings per share of $1.09 during the same quarter last year, which would indicate a positive year over year growth rate of 27.5%. The firm is expected to issue its next earnings results before the market opens on Wednesday, July 11th.

On average, analysts expect that MSC Industrial Direct will report full year earnings of $5.15 per share for the current fiscal year, with EPS estimates ranging from $5.10 to $5.20. For the next fiscal year, analysts anticipate that the business will report earnings of $6.06 per share, with EPS estimates ranging from $5.87 to $6.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for MSC Industrial Direct.

MSM has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of MSC Industrial Direct from $103.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, April 11th. Zacks Investment Research cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Goldman Sachs Group initiated coverage on shares of MSC Industrial Direct in a report on Sunday, March 18th. They set a “buy” rating and a $107.00 price target on the stock. ValuEngine cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Gabelli cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $99.00 price target on the stock. in a report on Friday, March 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $100.62.

NYSE:MSM opened at $85.14 on Tuesday. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $99.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.20. The company has a market cap of $4.73 billion, a PE ratio of 21.02, a PEG ratio of 1.20 and a beta of 0.61.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 24th. Stockholders of record on Tuesday, July 10th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, July 9th. This represents a $2.32 annualized dividend and a dividend yield of 2.72%. MSC Industrial Direct’s payout ratio is 57.28%.

In other news, Director Denis F. Kelly sold 564 shares of the firm’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $90.54, for a total transaction of $51,064.56. Following the sale, the director now directly owns 10,400 shares in the company, valued at approximately $941,616. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kari D. Heerdt sold 523 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $94.92, for a total transaction of $49,643.16. Following the sale, the senior vice president now owns 18,392 shares in the company, valued at $1,745,768.64. The disclosure for this sale can be found here. Insiders have sold a total of 162,743 shares of company stock worth $15,444,036 over the last 90 days. Insiders own 31.38% of the company’s stock.

Several hedge funds have recently made changes to their positions in MSM. Summit Trail Advisors LLC increased its holdings in MSC Industrial Direct by 7,833.5% in the 1st quarter. Summit Trail Advisors LLC now owns 517,023 shares of the industrial products company’s stock valued at $517,000 after acquiring an additional 510,506 shares during the last quarter. Raymond James & Associates increased its holdings in MSC Industrial Direct by 653.3% in the 4th quarter. Raymond James & Associates now owns 306,544 shares of the industrial products company’s stock valued at $29,631,000 after acquiring an additional 265,850 shares during the last quarter. Prudential Financial Inc. increased its holdings in MSC Industrial Direct by 645.5% in the 1st quarter. Prudential Financial Inc. now owns 265,400 shares of the industrial products company’s stock valued at $24,340,000 after acquiring an additional 229,798 shares during the last quarter. American Century Companies Inc. increased its holdings in MSC Industrial Direct by 10.2% in the 1st quarter. American Century Companies Inc. now owns 2,097,340 shares of the industrial products company’s stock valued at $192,347,000 after acquiring an additional 193,659 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in MSC Industrial Direct by 4.8% in the 1st quarter. BlackRock Inc. now owns 3,867,996 shares of the industrial products company’s stock valued at $354,734,000 after acquiring an additional 178,523 shares during the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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