MSC Industrial Direct (NYSE:MSM) Releases Earnings Results, Hits Estimates

MSC Industrial Direct (NYSE:MSM) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.33, Briefing.com reports. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The firm had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same quarter last year, the business posted $1.74 EPS. MSC Industrial Direct’s revenue was down 7.1% on a year-over-year basis.

MSC Industrial Direct Price Performance

NYSE MSM opened at $78.53 on Thursday. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88. MSC Industrial Direct has a 12-month low of $75.05 and a 12-month high of $105.77. The company has a 50 day moving average price of $86.36 and a two-hundred day moving average price of $93.68.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a yield of 4.23%. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

Wall Street Analyst Weigh In

MSM has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a research report on Friday, June 14th. Baird R W lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Finally, Loop Capital decreased their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, 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.