$767.83 Million in Sales Expected for MSC Industrial Direct Co Inc (MSM) This Quarter

Analysts expect MSC Industrial Direct Co Inc (NYSE:MSM) to post $767.83 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for MSC Industrial Direct’s earnings. The lowest sales estimate is $764.00 million and the highest is $771.00 million. MSC Industrial Direct posted sales of $703.78 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The business is expected to announce its next earnings results on Thursday, April 5th.

On average, analysts expect that MSC Industrial Direct will report full-year sales of $767.83 million for the current fiscal year, with estimates ranging from $3.15 billion to $3.25 billion. For the next year, analysts expect that the firm will post sales of $3.38 billion per share, with estimates ranging from $3.31 billion to $3.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The business had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $770.95 million. During the same period last year, the business posted $0.95 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year.

Several brokerages have recently issued reports on MSM. BMO Capital Markets raised their target price on shares of MSC Industrial Direct from $83.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, November 1st. TheStreet upgraded shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a report on Tuesday, November 28th. Wells Fargo & Co set a $86.00 target price on shares of MSC Industrial Direct and gave the stock a “hold” rating in a report on Wednesday, November 1st. Zacks Investment Research cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $95.92.

Shares of MSC Industrial Direct (NYSE MSM) traded up $0.51 during trading on Wednesday, hitting $89.21. 1,078,653 shares of the stock traded hands, compared to its average volume of 882,077. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.04. MSC Industrial Direct has a 1 year low of $65.42 and a 1 year high of $105.70. The company has a market capitalization of $5,007.65, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were issued a $0.58 dividend. The ex-dividend date was Friday, January 12th. This represents a $2.32 annualized dividend and a yield of 2.60%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s payout ratio is 56.04%.

MSC Industrial Direct announced that its board has authorized a stock repurchase plan on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

In related news, EVP Steven N. Baruch sold 5,762 shares of MSC Industrial Direct stock in a transaction on Monday, November 20th. The shares were sold at an average price of $81.25, for a total value of $468,162.50. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $3,550,114.48. Following the completion of the sale, the chief executive officer now owns 117,885 shares in the company, valued at approximately $11,100,051.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 950,409 shares of company stock worth $87,546,673. 31.28% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC bought a new stake in MSC Industrial Direct in the fourth quarter valued at $127,000. PNC Financial Services Group Inc. boosted its holdings in MSC Industrial Direct by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares in the last quarter. Cutler Group LP boosted its holdings in MSC Industrial Direct by 457.8% in the fourth quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 1,831 shares in the last quarter. QS Investors LLC boosted its holdings in MSC Industrial Direct by 0.5% in the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares in the last quarter. Finally, Zions Bancorporation bought a new stake in MSC Industrial Direct in the third quarter valued at $150,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

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About MSC Industrial Direct

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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