Q4 2019 EPS Estimates for MSC Industrial Direct Co Inc Decreased by KeyCorp (MSM)

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MSC Industrial Direct Co Inc (NYSE:MSM) – Analysts at KeyCorp decreased their Q4 2019 earnings estimates for shares of MSC Industrial Direct in a report issued on Wednesday, April 10th. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings per share of $1.46 for the quarter, down from their previous estimate of $1.58. KeyCorp also issued estimates for MSC Industrial Direct’s Q2 2020 earnings at $1.31 EPS, Q3 2020 earnings at $1.55 EPS, Q4 2020 earnings at $1.52 EPS and FY2020 earnings at $5.80 EPS.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, April 10th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.02). MSC Industrial Direct had a return on equity of 21.20% and a net margin of 8.88%. The firm had revenue of $823.00 million during the quarter, compared to the consensus estimate of $826.98 million. During the same period last year, the firm posted $1.34 earnings per share.

Several other brokerages have also recently issued reports on MSM. Northcoast Research reaffirmed a “buy” rating on shares of MSC Industrial Direct in a report on Thursday, April 11th. BMO Capital Markets reduced their target price on MSC Industrial Direct from $90.00 to $86.00 and set a “market perform” rating on the stock in a report on Thursday, April 11th. Buckingham Research boosted their price objective on MSC Industrial Direct from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Zacks Investment Research cut MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Co reduced their price objective on MSC Industrial Direct from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $88.38.

Shares of MSM stock opened at $82.00 on Monday. MSC Industrial Direct has a 12-month low of $73.28 and a 12-month high of $95.83. The company has a current ratio of 2.19, a quick ratio of 1.27 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.54 billion, a PE ratio of 16.14, a PEG ratio of 1.46 and a beta of 0.86.

Hedge funds and other institutional investors have recently modified their holdings of the business. Pearl River Capital LLC purchased a new position in shares of MSC Industrial Direct during the fourth quarter valued at approximately $35,000. Trust Co. of Vermont boosted its position in shares of MSC Industrial Direct by 64.9% during the fourth quarter. Trust Co. of Vermont now owns 874 shares of the industrial products company’s stock valued at $67,000 after buying an additional 344 shares during the period. Quantamental Technologies LLC purchased a new position in shares of MSC Industrial Direct during the fourth quarter valued at approximately $82,000. PNC Financial Services Group Inc. boosted its position in shares of MSC Industrial Direct by 25.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,151 shares of the industrial products company’s stock valued at $89,000 after buying an additional 231 shares during the period. Finally, ETF Managers Group LLC boosted its position in shares of MSC Industrial Direct by 17.8% during the fourth quarter. ETF Managers Group LLC now owns 1,450 shares of the industrial products company’s stock valued at $112,000 after buying an additional 219 shares during the period. 75.05% of the stock is currently owned by institutional investors.

In other MSC Industrial Direct news, VP Charles Bonomo sold 601 shares of the business’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $83.01, for a total transaction of $49,889.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Denis F. Kelly sold 1,180 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $82.18, for a total value of $96,972.40. Following the sale, the director now directly owns 9,980 shares in the company, valued at $820,156.40. The disclosure for this sale can be found here. Insiders have sold 19,810 shares of company stock worth $1,635,422 over the last three months. 27.96% of the stock is currently owned by insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, April 8th. This represents a $2.52 annualized dividend and a yield of 3.07%. MSC Industrial Direct’s payout ratio is currently 49.61%.

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.

Further Reading: Preferred Stock

Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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