MSC Industrial Direct (NYSE:MSM) Issues Q4 Earnings Guidance

MSC Industrial Direct (NYSE:MSM) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.21-1.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.48. The company issued revenue guidance of $835-851 million, compared to the consensus revenue estimate of $883.58 million.MSC Industrial Direct also updated its Q4 2019 guidance to $1.21-1.27 EPS.

Shares of MSM traded down $2.72 during trading hours on Wednesday, hitting $69.55. 2,230,600 shares of the stock were exchanged, compared to its average volume of 422,373. MSC Industrial Direct has a fifty-two week low of $67.25 and a fifty-two week high of $90.25. The company has a quick ratio of 1.18, a current ratio of 2.19 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $72.47. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 1.33 and a beta of 0.95.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.06). The firm had revenue of $866.50 million for the quarter, compared to analyst estimates of $881.62 million. MSC Industrial Direct had a return on equity of 21.20% and a net margin of 8.88%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share. As a group, equities analysts anticipate that MSC Industrial Direct will post 5.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, July 23rd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.31%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. The ex-dividend date is Monday, July 22nd. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 49.61%.

MSM has been the subject of a number of research reports. Stephens initiated coverage on shares of Itron in a report on Monday. They issued an equal weight rating and a $64.00 price target for the company. Gordon Haskett cut shares of MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price target for the company. in a report on Monday, June 10th. Buckingham Research set a $77.00 price target on shares of MSC Industrial Direct and gave the stock a hold rating in a report on Monday, July 1st. Northcoast Research reaffirmed a buy rating on shares of MSC Industrial Direct in a research note on Thursday, April 11th. Finally, Wells Fargo & Co dropped their price objective on shares of MSC Industrial Direct from $85.00 to $80.00 and set a market perform rating on the stock in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $85.00.

In related news, EVP Douglas E. Jones sold 2,126 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.50, for a total transaction of $177,521.00. Following the transaction, the executive vice president now directly owns 7,496 shares of the company’s stock, valued at $625,916. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven N. Baruch sold 5,404 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $82.00, for a total transaction of $443,128.00. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by company insiders.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 products, 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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