Analysts expect MSC Industrial Direct (NYSE:MSM) to report $1.41 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for MSC Industrial Direct’s earnings, with the highest EPS estimate coming in at $1.44 and the lowest estimate coming in at $1.40. MSC Industrial Direct posted earnings of $1.09 per share during the same quarter last year, which suggests a positive year over year growth rate of 29.4%. The firm is expected to report its next quarterly earnings results on Wednesday, July 11th.
On average, analysts expect that MSC Industrial Direct will report full-year earnings of $5.18 per share for the current year, with EPS estimates ranging from $5.12 to $5.24. For the next financial year, analysts anticipate that the firm will report earnings of $6.07 per share, with EPS estimates ranging from $5.87 to $6.45. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, April 10th. The industrial products company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.02. The company had revenue of $769.00 million during the quarter, compared to analysts’ expectations of $773.42 million. MSC Industrial Direct had a net margin of 9.91% and a return on equity of 20.53%. MSC Industrial Direct’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share.
A number of research firms have issued reports on MSM. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Wednesday, January 10th. Stephens reaffirmed a “buy” rating and issued a $116.00 price target on shares of MSC Industrial Direct in a report on Tuesday, April 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $107.00 price target on shares of MSC Industrial Direct in a report on Tuesday, April 10th. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $92.00 price target on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. Finally, Deutsche Bank set a $102.00 price target on shares of MSC Industrial Direct and gave the stock a “hold” rating in a report on Friday, April 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $100.62.
In other MSC Industrial Direct news, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $99.00, for a total transaction of $247,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Erik Gershwind sold 104,252 shares of MSC Industrial Direct stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $93.96, for a total transaction of $9,795,517.92. Following the transaction, the insider now directly owns 117,885 shares in the company, valued at $11,076,474.60. The disclosure for this sale can be found here. Insiders have sold 656,149 shares of company stock worth $61,954,702 over the last ninety days. 31.28% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Grandeur Peak Global Advisors LLC raised its stake in shares of MSC Industrial Direct by 2.1% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 150,700 shares of the industrial products company’s stock valued at $14,567,000 after acquiring an additional 3,150 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of MSC Industrial Direct during the 4th quarter worth about $409,000. Envestnet Asset Management Inc. lifted its holdings in shares of MSC Industrial Direct by 18.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,385 shares of the industrial products company’s stock worth $714,000 after acquiring an additional 1,164 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of MSC Industrial Direct during the 4th quarter worth about $2,724,000. Finally, Vident Investment Advisory LLC lifted its holdings in shares of MSC Industrial Direct by 80.6% during the 4th quarter. Vident Investment Advisory LLC now owns 8,628 shares of the industrial products company’s stock worth $834,000 after acquiring an additional 3,851 shares during the period. 75.32% of the stock is currently owned by institutional investors.
Shares of NYSE MSM traded down $0.50 during midday trading on Friday, reaching $90.23. The company had a trading volume of 62,787 shares, compared to its average volume of 772,253. The stock has a market cap of $5,041.52, a P/E ratio of 22.40, a P/E/G ratio of 1.27 and a beta of 0.60. MSC Industrial Direct has a 1 year low of $65.42 and a 1 year high of $99.94. The company has a current ratio of 2.20, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19.
MSC Industrial Direct declared that its Board of Directors has approved a share repurchase program on Wednesday, January 10th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Monday, April 16th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 57.28%.
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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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