MSC Industrial Direct (NYSE:MSM) Issues Earnings Results, Meets Estimates

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

MSC Industrial Direct Stock Up 2.4 %

Shares of MSM stock opened at $80.09 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The firm’s 50-day moving average is $86.66 and its 200-day moving average is $93.78. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 14.38 and a beta of 0.88. MSC Industrial Direct has a 52-week low of $75.05 and a 52-week high of $105.77.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.15%. MSC Industrial Direct’s payout ratio is 59.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stephens reissued an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Robert W. Baird cut their price target on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Loop Capital cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research report on Monday, June 17th. Finally, StockNews.com cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Five research 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.

MSC Industrial Direct Company Profile

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.