MSC Industrial Direct (NYSE:MSM) Issues Quarterly Earnings Results

MSC Industrial Direct (NYSE:MSM) released its earnings results on Tuesday. The industrial products company reported $1.33 EPS for the quarter, hitting the consensus estimate of $1.33, Briefing.com reports. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The business had revenue of $979.40 million for the quarter, compared to the consensus estimate of $979.10 million. During the same period in the previous year, the company posted $1.74 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year.

MSC Industrial Direct Stock Up 2.4 %

MSC Industrial Direct stock opened at $80.09 on Wednesday. The stock has a market cap of $4.51 billion, a PE ratio of 14.38 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. MSC Industrial Direct has a one year low of $75.05 and a one year high of $105.77. The stock has a fifty day moving average of $86.66 and a 200 day moving average of $93.78.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 59.61%.

Wall Street Analyst Weigh In

MSM has been the subject of several recent analyst reports. Stephens restated an “overweight” rating and issued a $110.00 price target on shares of MSC Industrial Direct in a research note on Friday, June 14th. KeyCorp cut MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 17th. StockNews.com cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Baird R W cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Loop Capital cut MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a research note on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.00.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include 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.