Analysts expect that MSC Industrial Direct Co Inc (NYSE:MSM) will report $1.30 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have made estimates for MSC Industrial Direct’s earnings, with the lowest EPS estimate coming in at $1.29 and the highest estimate coming in at $1.32. MSC Industrial Direct reported earnings of $0.93 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 39.8%. The firm is expected to announce its next quarterly earnings results on Thursday, April 5th.
According to Zacks, analysts expect that MSC Industrial Direct will report full year earnings of $5.00 per share for the current fiscal year, with EPS estimates ranging from $4.46 to $5.20. For the next financial year, analysts forecast that the business will report earnings of $5.87 per share, with EPS estimates ranging from $4.90 to $6.25. Zacks’ EPS calculations are a mean average based on a survey of research firms 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 analysts’ consensus estimates of $1.06 by ($0.01). The business had revenue of $768.60 million during the quarter, compared to analyst estimates of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS.
MSM has been the subject of a number of research reports. TheStreet upgraded shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a report on Tuesday, November 28th. Gabelli upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Friday, October 13th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Wednesday, October 11th. Credit Suisse Group set a $93.00 price target on shares of MSC Industrial Direct and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Northcoast Research upgraded shares of MSC Industrial Direct from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $95.54.
MSC Industrial Direct (NYSE:MSM) opened at $94.49 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $5,250.00, a P/E ratio of 22.77, a P/E/G ratio of 1.34 and a beta of 0.67. MSC Industrial Direct has a twelve month low of $65.42 and a twelve month high of $105.70.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, January 12th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s payout ratio is currently 55.90%.
MSC Industrial Direct announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 10th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, EVP Steven N. Baruch sold 5,762 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Charles Bonomo sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was 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. Insiders have sold a total of 352,829 shares of company stock valued at $30,393,158 in the last 90 days. Insiders own 31.28% of the company’s stock.
Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of MSC Industrial Direct by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock worth $246,031,000 after buying an additional 159,772 shares during the last quarter. American Century Companies Inc. lifted its position in shares of MSC Industrial Direct by 1,889.6% during the 3rd quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock worth $158,638,000 after buying an additional 1,993,717 shares during the last quarter. State Street Corp lifted its position in shares of MSC Industrial Direct by 1.6% during the 2nd quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock worth $105,113,000 after buying an additional 19,302 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of MSC Industrial Direct by 105.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock worth $89,112,000 after buying an additional 604,873 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of MSC Industrial Direct by 52.7% during the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock worth $72,250,000 after buying an additional 332,893 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.
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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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