MSC Industrial Direct (NYSE:MSM) Issues Earnings Results, Beats Expectations By $0.24 EPS

MSC Industrial Direct (NYSE:MSM) announced its quarterly earnings results on Wednesday. The industrial products company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.24, MarketWatch Earnings reports. The firm had revenue of $834.97 million for the quarter, compared to analysts’ expectations of $835.02 million. MSC Industrial Direct had a return on equity of 19.58% and a net margin of 8.07%.

NYSE MSM opened at $64.64 on Friday. MSC Industrial Direct has a 52 week low of $44.93 and a 52 week high of $79.87. The company has a quick ratio of 0.94, a current ratio of 2.63 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.56 billion, a P/E ratio of 13.08 and a beta of 1.00. The stock’s 50-day moving average price is $70.80 and its 200-day moving average price is $66.40.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 14th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, July 13th. This represents a $3.00 annualized dividend and a yield of 4.64%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 56.71%.

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of MSC Industrial Direct from $64.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. KeyCorp raised their price target on MSC Industrial Direct from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Robert W. Baird raised their target price on shares of MSC Industrial Direct from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, April 9th. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Wednesday, June 3rd. Finally, TheStreet raised shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a report on Tuesday, June 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. MSC Industrial Direct currently has an average rating of “Hold” and an average target price of $73.10.

In other news, SVP Edward F. Martin, Jr. sold 653 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $64.79, for a total value of $42,307.87. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Douglas E. Jones sold 3,697 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $60.00, for a total value of $221,820.00. The disclosure for this sale can be found here. Corporate insiders own 28.75% of the company’s stock.

About MSC Industrial Direct

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 for MSC Industrial Direct (NYSE:MSM)

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