Equities research analysts expect MSC Industrial Direct Co Inc (NYSE:MSM) to report $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. The lowest sales estimate is $764.00 million and the highest is $771.00 million. MSC Industrial Direct reported 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 firm is expected to issue its next 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 anticipate that the company will post sales of $3.38 billion per share, with estimates ranging from $3.31 billion to $3.45 billion. Zacks’ sales calculations 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 for the quarter, missing the consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The firm had revenue of $768.60 million during the quarter, compared to analysts’ expectations of $770.95 million. During the same period last year, the business posted $0.95 EPS. The company’s revenue was up 12.0% compared to the same quarter last year.
Several equities research analysts recently weighed in on MSM shares. TheStreet raised MSC Industrial Direct from a “c+” rating to a “b-” rating in a report on Tuesday, November 28th. Credit Suisse Group set a $100.00 price objective on MSC Industrial Direct and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Wednesday, January 3rd. Northcoast Research raised MSC Industrial Direct from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. Finally, Stephens set a $114.00 target price on MSC Industrial Direct and gave the company a “buy” rating in a report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $95.92.
Shares of MSC Industrial Direct (MSM) traded down $0.93 on Friday, reaching $88.92. The company had a trading volume of 442,631 shares, compared to its average volume of 815,545. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.29. The stock has a market cap of $5,020.00, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.29 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. Shareholders of record on Tuesday, January 16th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, January 12th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s payout ratio is presently 55.90%.
MSC Industrial Direct announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 10th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, SVP Steve Armstrong sold 19,162 shares of MSC Industrial Direct stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $94.98, for a total transaction of $1,820,006.76. Following the completion of the sale, the senior vice president now owns 13,432 shares in the company, valued at approximately $1,275,771.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Charles Bonomo sold 1,800 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 18th. The shares were 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. In the last quarter, insiders have sold 783,437 shares of company stock valued at $74,083,049. Corporate insiders own 31.38% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Delpha Capital Management LLC bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at about $111,000. Cerebellum GP LLC bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at about $127,000. Captrust Financial Advisors bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at about $129,000. Cutler Group LP boosted its position in shares of MSC Industrial Direct by 457.8% during the 4th 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 during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of MSC Industrial Direct by 0.5% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 73.99% of the company’s stock.
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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