MSC Industrial Direct (NYSE:MSM) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

MSC Industrial Direct (NYSE:MSM) released its earnings results on Tuesday. The industrial products company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02, MarketWatch Earnings reports. The firm had revenue of $771.90 million during the quarter, compared to analysts’ expectations of $771.54 million. MSC Industrial Direct had a net margin of 7.87% and a return on equity of 19.38%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS.

NYSE MSM traded up $0.53 during trading on Thursday, hitting $83.85. 4,486 shares of the company’s stock traded hands, compared to its average volume of 896,952. The business has a 50 day moving average of $84.71 and a 200-day moving average of $72.09. MSC Industrial Direct has a 12-month low of $44.93 and a 12-month high of $87.84. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 18.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.70 and a current ratio of 3.03.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 26th. Shareholders of record on Tuesday, January 12th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, January 11th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 63.29%.

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of MSC Industrial Direct from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MSC Industrial Direct from $75.00 to $92.00 and gave the company a “hold” rating in a report on Wednesday, December 16th. KeyCorp upped their target price on shares of MSC Industrial Direct from $82.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, November 23rd. Finally, Raymond James raised shares of MSC Industrial Direct from an “underperform” rating to a “market perform” rating in a research report on Wednesday, October 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $81.88.

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, Mexico, and the United Kingdom. Its 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.

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