MSC Industrial Direct (MSM) Posts Earnings Results, Beats Expectations By $0.02 EPS

MSC Industrial Direct (NYSE:MSM) announced its quarterly earnings data on Tuesday, April 10th. The industrial products company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02, Bloomberg Earnings reports. MSC Industrial Direct had a net margin of 9.91% and a return on equity of 20.53%. The business had revenue of $769.00 million during the quarter, compared to the consensus estimate of $773.42 million. During the same period in the previous year, the business earned $1.33 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. MSC Industrial Direct updated its Q3 guidance to $1.37-1.43 EPS.

MSM stock traded up $0.47 during midday trading on Wednesday, hitting $89.77. The stock had a trading volume of 49,558 shares, compared to its average volume of 769,282. The firm has a market cap of $5,053.38, a price-to-earnings ratio of 19.67, a PEG ratio of 1.27 and a beta of 0.60. The company has a quick ratio of 1.19, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. MSC Industrial Direct has a 1-year low of $65.42 and a 1-year high of $99.94.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, April 16th. This represents a $2.32 annualized dividend and a yield of 2.58%. MSC Industrial Direct’s payout ratio is 57.28%.

A number of research firms have weighed in on MSM. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Wednesday, January 3rd. UBS cut shares of MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, January 4th. Alex. Brown reaffirmed an “outperform” rating and set a $105.00 target price (up previously from $95.00) on shares of MSC Industrial Direct in a research note on Thursday, January 4th. They noted that the move was a valuation call. Susquehanna Bancshares reaffirmed a “hold” rating and set a $92.00 target price on shares of MSC Industrial Direct in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $112.00 target price (up previously from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $100.62.

MSC Industrial Direct declared that its board has initiated a stock repurchase plan on Wednesday, January 10th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, CFO Rustom Jilla sold 2,500 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $99.00, for a total value of $247,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Charles Bonomo sold 1,800 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $92.19, for a total transaction of $165,942.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 657,949 shares of company stock worth $62,120,644. 31.38% of the stock is owned by company insiders.

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About MSC Industrial Direct

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.

Earnings History for MSC Industrial Direct (NYSE:MSM)

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