MSC Industrial Direct Co Inc (MSM) Expected to Post Quarterly Sales of $829.75 Million

Brokerages predict that MSC Industrial Direct Co Inc (NYSE:MSM) will post sales of $829.75 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for MSC Industrial Direct’s earnings. The highest sales estimate is $832.30 million and the lowest is $829.00 million. MSC Industrial Direct reported sales of $768.56 million in the same quarter last year, which would suggest a positive year over year growth rate of 8%. The business is expected to report its next quarterly earnings report on Wednesday, January 9th.

On average, analysts expect that MSC Industrial Direct will report full year sales of $3.44 billion for the current year, with estimates ranging from $3.41 billion to $3.47 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.62 billion, with estimates ranging from $3.54 billion to $3.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, October 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. MSC Industrial Direct had a return on equity of 21.36% and a net margin of 10.28%. The firm had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $838.88 million. During the same period in the previous year, the firm earned $1.07 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis.

A number of research analysts have issued reports on MSM shares. Buckingham Research started coverage on MSC Industrial Direct in a research note on Friday, October 12th. They issued a “neutral” rating and a $89.00 target price for the company. Gordon Haskett started coverage on MSC Industrial Direct in a research note on Friday, October 12th. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Wednesday, September 26th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $100.00.

NYSE:MSM traded up $1.52 on Friday, reaching $87.08. The company’s stock had a trading volume of 251,823 shares, compared to its average volume of 504,795. MSC Industrial Direct has a 1-year low of $75.34 and a 1-year high of $99.94. The company has a current ratio of 2.34, a quick ratio of 1.28 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.97 and a beta of 0.64.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be given a dividend of $0.63 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.58. This represents a $2.52 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, November 9th. MSC Industrial Direct’s dividend payout ratio is currently 49.61%.

In other news, CFO Rustom Jilla sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $87.50, for a total transaction of $218,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Wright sold 5,404 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $89.00, for a total value of $480,956.00. The disclosure for this sale can be found here. 31.28% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in MSC Industrial Direct by 36.9% in the second quarter. State of Alaska Department of Revenue now owns 5,010 shares of the industrial products company’s stock valued at $424,000 after buying an additional 1,350 shares during the period. Retirement Systems of Alabama increased its stake in shares of MSC Industrial Direct by 1.9% during the second quarter. Retirement Systems of Alabama now owns 59,381 shares of the industrial products company’s stock worth $5,038,000 after purchasing an additional 1,110 shares during the period. Oakbrook Investments LLC bought a new position in shares of MSC Industrial Direct during the second quarter worth approximately $378,000. Highland Capital Management LLC bought a new position in shares of MSC Industrial Direct during the second quarter worth approximately $694,000. Finally, Acadian Asset Management LLC increased its stake in shares of MSC Industrial Direct by 462.0% during the second quarter. Acadian Asset Management LLC now owns 26,049 shares of the industrial products company’s stock worth $2,211,000 after purchasing an additional 21,414 shares during the period. 76.51% of the stock is owned by institutional investors.

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, and the United Kingdom. The company's MRO products comprise 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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