MSC Industrial Direct Forecasted to Post Q3 2018 Earnings of $1.40 Per Share (MSM)

MSC Industrial Direct (NYSE:MSM) – Stock analysts at William Blair lowered their Q3 2018 EPS estimates for MSC Industrial Direct in a research report issued on Wednesday, April 4th. William Blair analyst R. Merkel now expects that the industrial products company will earn $1.40 per share for the quarter, down from their previous estimate of $1.46. William Blair also issued estimates for MSC Industrial Direct’s FY2018 earnings at $5.15 EPS and FY2019 earnings at $6.18 EPS.

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Several other research firms also recently issued reports on MSM. Susquehanna Bancshares reaffirmed a “hold” rating and set a $92.00 price objective on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $95.00) on shares of MSC Industrial Direct in a report on Thursday, January 4th. They noted that the move was a valuation call. Gabelli cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $99.00 target price for the company. in a research report on Friday, March 16th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Saturday, March 24th. Finally, Goldman Sachs assumed coverage on shares of MSC Industrial Direct in a research report on Sunday, March 18th. They set a “buy” rating and a $107.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and an average target price of $97.85.

NYSE:MSM opened at $92.00 on Friday. MSC Industrial Direct has a 52-week low of $65.42 and a 52-week high of $99.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.04 and a current ratio of 1.92. The firm has a market cap of $5,263.96, a price-to-earnings ratio of 22.72, a PEG ratio of 1.34 and a beta of 0.60.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (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 firm had revenue of $768.60 million for the quarter, compared to analyst estimates of $770.95 million. During the same period in the prior year, the company posted $0.95 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSM. Legal & General Group Plc increased its position in shares of MSC Industrial Direct by 11.8% in the 3rd quarter. Legal & General Group Plc now owns 56,755 shares of the industrial products company’s stock valued at $4,288,000 after buying an additional 5,979 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in shares of MSC Industrial Direct by 194.8% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 17,100 shares of the industrial products company’s stock valued at $1,292,000 after buying an additional 11,300 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of MSC Industrial Direct by 6.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 222,549 shares of the industrial products company’s stock valued at $16,819,000 after buying an additional 14,116 shares in the last quarter. Stifel Financial Corp increased its position in shares of MSC Industrial Direct by 14.3% in the 3rd quarter. Stifel Financial Corp now owns 17,978 shares of the industrial products company’s stock valued at $1,362,000 after buying an additional 2,249 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of MSC Industrial Direct by 618.9% in the 3rd quarter. Engineers Gate Manager LP now owns 17,914 shares of the industrial products company’s stock valued at $1,354,000 after buying an additional 15,422 shares in the last quarter. Institutional investors and hedge funds own 75.35% of the company’s stock.

In related news, CFO Rustom Jilla sold 2,500 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $99.00, for a total value of $247,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mitchell Jacobson sold 362,753 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $94.09, for a total transaction of $34,131,429.77. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at approximately $8,468,100. The disclosure for this sale can be found here. In the last 90 days, insiders sold 783,437 shares of company stock valued at $74,083,049. 31.28% of the stock is owned by corporate insiders.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, April 16th. MSC Industrial Direct’s dividend payout ratio is currently 57.28%.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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