Analysts forecast that MSC Industrial Direct Co Inc (NYSE:MSM) will post earnings of $1.26 per share for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for MSC Industrial Direct’s earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.25. MSC Industrial Direct posted earnings per share of $1.34 during the same quarter last year, which indicates a negative year-over-year growth rate of 6%. The firm is expected to announce its next quarterly earnings report on Tuesday, April 9th.
According to Zacks, analysts expect that MSC Industrial Direct will report full-year earnings of $5.79 per share for the current year, with EPS estimates ranging from $5.70 to $5.95. For the next fiscal year, analysts anticipate that the business will report earnings of $6.29 per share, with EPS estimates ranging from $6.15 to $6.65. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, January 9th. The industrial products company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. The business had revenue of $831.60 million for the quarter, compared to analyst estimates of $830.60 million. MSC Industrial Direct had a return on equity of 21.97% and a net margin of 10.53%. MSC Industrial Direct’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share.
Several analysts recently weighed in on the company. Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. Stephens lowered MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $92.00 price target on the stock. in a research note on Friday, February 8th. Buckingham Research set a $83.00 price target on MSC Industrial Direct and gave the company a “hold” rating in a research note on Thursday, January 10th. Finally, Wells Fargo & Co cut their price target on MSC Industrial Direct from $87.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, December 21st. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $95.55.
In other news, SVP Steve Armstrong sold 5,293 shares of the firm’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $82.48, for a total transaction of $436,566.64. Following the completion of the transaction, the senior vice president now directly owns 7,561 shares in the company, valued at $623,631.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denis F. Kelly sold 1,180 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $82.18, for a total value of $96,972.40. Following the transaction, the director now owns 9,980 shares of the company’s stock, valued at $820,156.40. The disclosure for this sale can be found here. Insiders have sold 19,810 shares of company stock valued at $1,635,422 over the last 90 days. 27.96% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of MSM. Bank of New York Mellon Corp raised its position in shares of MSC Industrial Direct by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 722,546 shares of the industrial products company’s stock worth $61,307,000 after acquiring an additional 111,652 shares during the last quarter. Bank of Montreal Can raised its position in shares of MSC Industrial Direct by 53.9% during the third quarter. Bank of Montreal Can now owns 10,603 shares of the industrial products company’s stock worth $934,000 after acquiring an additional 3,715 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of MSC Industrial Direct by 27.1% during the third quarter. Russell Investments Group Ltd. now owns 46,642 shares of the industrial products company’s stock worth $4,109,000 after acquiring an additional 9,942 shares during the last quarter. Arizona State Retirement System raised its position in shares of MSC Industrial Direct by 2.7% during the third quarter. Arizona State Retirement System now owns 32,708 shares of the industrial products company’s stock worth $2,882,000 after acquiring an additional 870 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of MSC Industrial Direct by 540.6% during the third quarter. Victory Capital Management Inc. now owns 166,980 shares of the industrial products company’s stock worth $14,713,000 after acquiring an additional 140,912 shares during the last quarter. Institutional investors own 73.95% of the company’s stock.
NYSE:MSM opened at $82.04 on Friday. The stock has a market capitalization of $4.63 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.43 and a beta of 0.86. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.23. MSC Industrial Direct has a twelve month low of $73.28 and a twelve month high of $96.58.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 products, 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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