Zacks: Analysts Expect MSC Industrial Direct Co Inc (NYSE:MSM) Will Post Quarterly Sales of $844.10 Million

Wall Street analysts expect MSC Industrial Direct Co Inc (NYSE:MSM) to post $844.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for MSC Industrial Direct’s earnings. The highest sales estimate is $849.60 million and the lowest is $839.80 million. MSC Industrial Direct reported sales of $837.99 million during the same quarter last year, which indicates a positive year over year growth rate of 0.7%. The company is scheduled to announce its next quarterly earnings results on Tuesday, October 29th.

On average, analysts expect that MSC Industrial Direct will report full year sales of $3.36 billion for the current financial year, with estimates ranging from $3.36 billion to $3.37 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.47 billion, with estimates ranging from $3.43 billion to $3.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.05). The company had revenue of $866.50 million during the quarter, compared to analyst estimates of $881.62 million. MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share.

Several analysts have recently weighed in on the stock. Northcoast Research lowered shares of MSC Industrial Direct from a “buy” rating to a “neutral” rating and decreased their target price for the company from $89.00 to $74.00 in a research report on Friday, July 12th. Buckingham Research decreased their target price on shares of MSC Industrial Direct from $77.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. BMO Capital Markets decreased their target price on shares of MSC Industrial Direct from $90.00 to $86.00 and set a “market perform” rating on the stock in a research report on Thursday, April 11th. Finally, Raymond James decreased their target price on shares of MSC Industrial Direct from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $80.70.

Several institutional investors have recently modified their holdings of MSM. Hamlin Capital Management LLC bought a new position in MSC Industrial Direct during the 2nd quarter valued at about $52,364,000. Norges Bank bought a new position in MSC Industrial Direct during the 4th quarter valued at about $48,204,000. QV Investors Inc. bought a new position in MSC Industrial Direct during the 1st quarter valued at about $35,596,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in MSC Industrial Direct by 1,146.7% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 344,619 shares of the industrial products company’s stock valued at $28,503,000 after purchasing an additional 316,976 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in MSC Industrial Direct during the 1st quarter valued at about $11,422,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

NYSE MSM traded down $0.34 during midday trading on Friday, hitting $68.08. The company had a trading volume of 567,437 shares, compared to its average volume of 560,275. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.35 and a current ratio of 2.50. The firm has a market cap of $3.92 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. The stock has a fifty day moving average of $72.17. MSC Industrial Direct has a fifty-two week low of $67.25 and a fifty-two week high of $90.25.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, July 23rd will be given a dividend of $0.75 per share. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, July 22nd. MSC Industrial Direct’s payout ratio is 59.06%.

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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