MSC Industrial Direct (NYSE:MSM) Announces Quarterly Earnings Results


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MSC Industrial Direct (NYSE:MSM) posted its earnings results on Tuesday. The industrial products company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01, MarketWatch Earnings reports. The company had revenue of $774.00 million for the quarter, compared to analyst estimates of $778.77 million. MSC Industrial Direct had a net margin of 7.14% and a return on equity of 20.42%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.00 earnings per share.

MSC Industrial Direct stock opened at $86.65 on Thursday. The company has a market cap of $4.84 billion, a P/E ratio of 21.50 and a beta of 0.99. MSC Industrial Direct has a 1-year low of $56.16 and a 1-year high of $93.92. The company has a fifty day simple moving average of $88.03 and a 200 day simple moving average of $80.50. The company has a current ratio of 2.23, a quick ratio of 1.22 and a debt-to-equity ratio of 0.41.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 27th. Investors of record on Tuesday, April 13th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, April 12th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 63.29%.

Several equities research analysts have weighed in on the stock. William Blair reiterated a “market perform” rating on shares of MSC Industrial Direct in a report on Wednesday. Zacks Investment Research lowered shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Company upgraded shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $105.00 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of MSC Industrial Direct from $90.00 to $89.00 and set a “hold” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.00.

In related news, SVP Kari D. Heerdt sold 28,934 shares of the firm’s stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $90.00, for a total value of $2,604,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles Bonomo sold 4,298 shares of the firm’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $84.01, for a total transaction of $361,074.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,339 shares of company stock valued at $7,019,914. 28.44% of the stock is owned by insiders.

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, Mexico, and the United Kingdom. Its 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.

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Earnings History for MSC Industrial Direct (NYSE:MSM)

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