Zacks: Brokerages Expect MSC Industrial Direct Co., Inc. (NYSE:MSM) to Announce $1.38 Earnings Per Share

Wall Street analysts expect MSC Industrial Direct Co., Inc. (NYSE:MSM) to announce earnings of $1.38 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for MSC Industrial Direct’s earnings. The highest EPS estimate is $1.42 and the lowest is $1.29. MSC Industrial Direct posted earnings of $1.40 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 1.4%. The business is expected to announce its next earnings report on Wednesday, July 14th.

According to Zacks, analysts expect that MSC Industrial Direct will report full year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.66 to $4.80. For the next fiscal year, analysts expect that the firm will post earnings of $5.20 per share, with EPS estimates ranging from $4.84 to $5.40. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, April 6th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The business had revenue of $774.00 million during the quarter, compared to the consensus estimate of $778.77 million. MSC Industrial Direct had a net margin of 5.97% and a return on equity of 21.19%. MSC Industrial Direct’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 EPS.

Several equities analysts recently commented on the stock. Wells Fargo & Company upgraded shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $105.00 target price for the company in a research note on Wednesday, April 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of MSC Industrial Direct from $89.00 to $94.00 and gave the company a “hold” rating in a research note on Tuesday, April 13th. TheStreet cut shares of MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, April 7th. William Blair upgraded shares of MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 13th. Finally, Zacks Investment Research cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Tuesday, May 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.67.

In other news, Director Louise K. Goeser sold 10,600 shares of the company’s stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $94.04, for a total value of $996,824.00. Following the sale, the director now owns 18,244 shares of the company’s stock, valued at approximately $1,715,665.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Steve Armstrong sold 23,483 shares of the company’s stock in a transaction dated Wednesday, April 21st. The stock was sold at an average price of $90.10, for a total transaction of $2,115,818.30. Following the completion of the sale, the senior vice president now directly owns 13,180 shares in the company, valued at approximately $1,187,518. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,168 shares of company stock valued at $4,832,563. Corporate insiders own 28.44% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Eaton Vance Management bought a new stake in shares of MSC Industrial Direct in the 1st quarter worth about $30,000. Fieldpoint Private Securities LLC bought a new stake in MSC Industrial Direct during the 4th quarter worth about $40,000. GPS Wealth Strategies Group LLC bought a new stake in MSC Industrial Direct during the 1st quarter worth about $61,000. Simon Quick Advisors LLC bought a new stake in MSC Industrial Direct during the 1st quarter worth about $67,000. Finally, Capital Analysts LLC bought a new stake in MSC Industrial Direct during the 1st quarter worth about $77,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

NYSE:MSM traded up $0.19 during trading hours on Thursday, hitting $91.73. 160,565 shares of the company traded hands, compared to its average volume of 411,441. The company has a market capitalization of $5.13 billion, a PE ratio of 27.33 and a beta of 1.11. MSC Industrial Direct has a twelve month low of $60.09 and a twelve month high of $96.23. The stock’s 50-day moving average price is $92.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.14 and a quick ratio of 1.18.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 27th. Stockholders of record on Tuesday, April 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, April 12th. MSC Industrial Direct’s dividend payout ratio is 63.29%.

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

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