MSC Industrial Direct (NYSE:MSM) Posts Quarterly Earnings Results, Hits Expectations

MSC Industrial Direct (NYSE:MSM) released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.74 earnings per share.

MSC Industrial Direct Stock Performance

Shares of NYSE:MSM opened at $78.53 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. MSC Industrial Direct has a 1 year low of $75.05 and a 1 year high of $105.77. The firm has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88. The business’s 50 day moving average price is $86.36 and its 200-day moving average price is $93.68.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.23%. MSC Industrial Direct’s payout ratio is currently 59.61%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Baird R W downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Loop Capital reduced their price target on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday. Stephens reissued an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a report on Friday, June 14th. Robert W. Baird reduced their target price on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Finally, StockNews.com lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.20.

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.