MSC Industrial Direct (NYSE:MSM) Announces Earnings Results, Misses Expectations By $0.05 EPS

MSC Industrial Direct (NYSE:MSM) issued its quarterly earnings data on Thursday. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05), Briefing.com reports. The firm had revenue of $952.30 million for the quarter, compared to the consensus estimate of $959.74 million. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS.

MSC Industrial Direct Trading Up 2.3 %

MSM traded up $1.79 during midday trading on Friday, hitting $79.58. 285,475 shares of the company were exchanged, compared to its average volume of 565,805. The firm has a market capitalization of $4.47 billion, a P/E ratio of 15.49 and a beta of 0.86. MSC Industrial Direct has a 1-year low of $75.05 and a 1-year high of $104.76. The firm’s 50 day moving average price is $82.03 and its 200-day moving average price is $84.47. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 4.27%. MSC Industrial Direct’s payout ratio is presently 64.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird boosted their price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Loop Capital reduced their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.