Zacks: Analysts Expect MSC Industrial Direct (MSM) to Announce $1.40 Earnings Per Share

Wall Street brokerages forecast that MSC Industrial Direct (NYSE:MSM) will report earnings per share (EPS) of $1.40 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for MSC Industrial Direct’s earnings, with the lowest EPS estimate coming in at $1.37 and the highest estimate coming in at $1.44. MSC Industrial Direct reported earnings of $1.09 per share during the same quarter last year, which would suggest a positive year over year growth rate of 28.4%. The firm is scheduled to issue its next earnings report on Wednesday, July 11th.

According to Zacks, analysts expect that MSC Industrial Direct will report full year earnings of $5.17 per share for the current financial year, with EPS estimates ranging from $5.14 to $5.22. For the next financial year, analysts expect that the business will report earnings of $6.08 per share, with EPS estimates ranging from $5.87 to $6.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Tuesday, April 10th. The industrial products company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. MSC Industrial Direct had a net margin of 9.91% and a return on equity of 20.53%. The company had revenue of $769.00 million during the quarter, compared to analyst estimates of $773.42 million. During the same period last year, the business earned $1.33 earnings per share. MSC Industrial Direct’s revenue was up 9.3% compared to the same quarter last year.

A number of equities analysts have recently commented on MSM shares. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Saturday, March 24th. BMO Capital Markets restated a “hold” rating and issued a $103.00 price objective on shares of MSC Industrial Direct in a research report on Monday, April 9th. Robert W. Baird restated a “hold” rating and issued a $107.00 price objective on shares of MSC Industrial Direct in a research report on Tuesday, April 10th. Deutsche Bank set a $102.00 price objective on shares of MSC Industrial Direct and gave the company a “hold” rating in a research report on Friday, April 6th. Finally, Stephens restated a “buy” rating and issued a $116.00 price objective on shares of MSC Industrial Direct in a research report on Tuesday, April 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $100.62.

MSC Industrial Direct opened at $94.30 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 1.19. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $99.94. The company has a market capitalization of $5.35 billion, a PE ratio of 23.28, a PEG ratio of 1.35 and a beta of 0.62.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Monday, April 16th. MSC Industrial Direct’s dividend payout ratio is currently 57.28%.

In other MSC Industrial Direct news, insider Erik Gershwind sold 30,000 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $94.56, for a total transaction of $2,836,800.00. Following the transaction, the insider now directly owns 117,885 shares of the company’s stock, valued at $11,147,205.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denis F. Kelly sold 564 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $90.54, for a total transaction of $51,064.56. Following the transaction, the director now directly owns 10,400 shares in the company, valued at $941,616. The disclosure for this sale can be found here. Company insiders own 31.28% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Wasatch Advisors Inc. raised its stake in shares of MSC Industrial Direct by 13.2% during the fourth quarter. Wasatch Advisors Inc. now owns 5,130 shares of the industrial products company’s stock worth $496,000 after acquiring an additional 600 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of MSC Industrial Direct by 3.1% during the first quarter. Mason Street Advisors LLC now owns 22,630 shares of the industrial products company’s stock worth $2,075,000 after acquiring an additional 686 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of MSC Industrial Direct by 7.1% during the first quarter. Cubist Systematic Strategies LLC now owns 11,228 shares of the industrial products company’s stock worth $1,030,000 after acquiring an additional 749 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MSC Industrial Direct by 49.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,294 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 755 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of MSC Industrial Direct by 8.4% during the first quarter. Thrivent Financial for Lutherans now owns 10,527 shares of the industrial products company’s stock worth $965,000 after acquiring an additional 815 shares in the last quarter. 76.75% of the stock is currently owned by hedge funds and other institutional investors.

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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