MSC Industrial Direct (NYSE:MSM) Announces Earnings Results

MSC Industrial Direct (NYSE:MSM) issued its earnings results on Tuesday. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33, Briefing.com reports. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The business had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter in the prior year, the firm earned $1.74 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year.

MSC Industrial Direct Trading Down 1.9 %

MSM traded down $1.51 during midday trading on Thursday, reaching $78.51. 541,366 shares of the company’s stock traded hands, compared to its average volume of 894,523. MSC Industrial Direct has a 52 week low of $75.05 and a 52 week high of $105.77. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 14.10 and a beta of 0.88. The firm has a fifty day moving average of $86.36 and a two-hundred day moving average of $93.68. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Baird R W cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Stephens reiterated an “overweight” rating and issued a $110.00 price target on shares of MSC Industrial Direct in a report on Friday, June 14th. KeyCorp lowered MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Loop Capital dropped their target price on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, StockNews.com lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $90.20.

MSC Industrial Direct Company Profile

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.