Equities analysts expect MSC Industrial Direct (NYSE:MSM) to report $1.41 earnings per share for the current quarter, according to Zacks. Four analysts have provided estimates for MSC Industrial Direct’s earnings. The highest EPS estimate is $1.44 and the lowest is $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 company is scheduled to report its next earnings report on Wednesday, July 11th.
On average, analysts expect that MSC Industrial Direct will report full year earnings of $5.17 per share for the current year, with EPS estimates ranging from $5.12 to $5.24. For the next fiscal year, analysts anticipate that the company will post earnings of $6.07 per share, with EPS estimates ranging from $5.87 to $6.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last issued its earnings results 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. MSC Industrial Direct had a return on equity of 20.53% and a net margin of 9.91%. The business had revenue of $769.00 million for the quarter, compared to the consensus estimate of $773.42 million. During the same period last year, the business posted $1.33 EPS. The company’s revenue was up 9.3% compared to the same quarter last year.
MSM has been the topic of several recent analyst reports. Credit Suisse Group reiterated an “outperform” rating and set a $112.00 target price (up from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday, January 9th. Raymond James Financial restated an “outperform” rating and issued a $105.00 price target (up 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. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Wednesday, January 10th. Stifel Nicolaus restated a “hold” rating and issued a $100.00 price target (up from $98.00) on shares of MSC Industrial Direct in a research note on Friday, January 12th. Finally, UBS downgraded MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, January 4th. Two 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. The company currently has a consensus rating of “Hold” and a consensus target price of $100.62.
Shares of MSM opened at $89.51 on Friday. 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 has a 12 month low of $65.42 and a 12 month high of $99.94. The firm has a market cap of $5,018.94, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.26 and a beta of 0.59.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be paid a $0.58 dividend. The ex-dividend date is Monday, April 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.59%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 57.28%.
MSC Industrial Direct declared that its board has authorized a stock buyback plan on Wednesday, January 10th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $99.00, for a total transaction of $247,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Erik Gershwind sold 37,703 shares of MSC Industrial Direct stock in a transaction on Friday, January 19th. The shares were sold at an average price of $94.16, for a total value of $3,550,114.48. Following the transaction, the chief executive officer now owns 117,885 shares in the company, valued at $11,100,051.60. The disclosure for this sale can be found here. Insiders have sold 657,949 shares of company stock worth $62,120,644 over the last quarter. 31.38% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its position in MSC Industrial Direct by 4.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 233,134 shares of the industrial products company’s stock valued at $22,535,000 after purchasing an additional 10,585 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 valued at $222,000 after acquiring an additional 755 shares during the period. Swiss National Bank raised its holdings in MSC Industrial Direct by 2.8% during the fourth quarter. Swiss National Bank now owns 76,800 shares of the industrial products company’s stock valued at $7,423,000 after acquiring an additional 2,100 shares during the period. Franklin Resources Inc. bought a new stake in MSC Industrial Direct during the fourth quarter valued at about $248,000. Finally, Public Employees Retirement System of Ohio raised its holdings in MSC Industrial Direct by 30.6% during the third quarter. Public Employees Retirement System of Ohio now owns 372,507 shares of the industrial products company’s stock valued at $28,150,000 after acquiring an additional 87,188 shares during the period. Institutional investors own 75.32% of the company’s stock.
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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.
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