MSC Industrial Direct (NYSE:MSM) Issues Earnings Results, Beats Expectations By $0.01 EPS


Share on StockTwits

MSC Industrial Direct (NYSE:MSM) issued its earnings results on Tuesday. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.01, MarketWatch Earnings reports. The company had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $778.77 million. MSC Industrial Direct had a net margin of 7.14% and a return on equity of 20.42%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share.

Shares of MSC Industrial Direct stock traded up $2.77 during mid-day trading on Thursday, hitting $89.42. 19,976 shares of the stock were exchanged, compared to its average volume of 453,516. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 21.50 and a beta of 0.99. MSC Industrial Direct has a twelve month low of $56.16 and a twelve month high of $93.92. The company has a current ratio of 2.23, a quick ratio of 1.22 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $88.03 and a 200 day simple moving average of $80.50.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 27th. Shareholders of record on Tuesday, April 13th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.35%. MSC Industrial Direct’s dividend payout ratio (DPR) is 63.29%.

Several research firms recently weighed in on MSM. Deutsche Bank Aktiengesellschaft dropped their price objective on MSC Industrial Direct from $90.00 to $89.00 and set a “hold” rating for the company in a research note on Monday. Wells Fargo & Company upgraded shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $105.00 in a research report on Thursday. Zacks Investment Research downgraded shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, William Blair raised shares of MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $85.00.

In related news, VP Charles Bonomo sold 4,298 shares of the stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $84.01, for a total transaction of $361,074.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kari D. Heerdt sold 28,934 shares of the firm’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $90.00, for a total value of $2,604,060.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,339 shares of company stock valued at $7,019,914. Insiders own 28.44% of the company’s stock.

About MSC Industrial Direct

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.

See Also: What does the Dogs of the Dow mean?

Earnings History for MSC Industrial Direct (NYSE:MSM)

Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.