Zacks: Brokerages Anticipate MSC Industrial Direct Co., Inc. (NYSE:MSM) Will Announce Quarterly Sales of $780.90 Million


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Analysts expect MSC Industrial Direct Co., Inc. (NYSE:MSM) to announce $780.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for MSC Industrial Direct’s earnings, with the highest sales estimate coming in at $805.70 million and the lowest estimate coming in at $769.00 million. MSC Industrial Direct reported sales of $786.09 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.7%. The company is scheduled to report its next earnings report on Wednesday, April 14th.

According to Zacks, analysts expect that MSC Industrial Direct will report full year sales of $3.20 billion for the current fiscal year, with estimates ranging from $3.16 billion to $3.24 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.36 billion, with estimates ranging from $3.31 billion to $3.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, January 5th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. MSC Industrial Direct had a net margin of 7.14% and a return on equity of 20.42%. The company had revenue of $771.90 million during the quarter, compared to analysts’ expectations of $771.54 million. During the same period last year, the company posted $1.21 EPS. MSC Industrial Direct’s revenue was down 6.3% on a year-over-year basis.

MSM has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of MSC Industrial Direct from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, January 7th. KeyCorp boosted their price objective on shares of MSC Industrial Direct from $82.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, November 23rd. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Wednesday, January 6th. Raymond James raised MSC Industrial Direct from an “underperform” rating to a “market perform” rating in a report on Wednesday, October 28th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft increased their target price on MSC Industrial Direct from $75.00 to $92.00 and gave the company a “hold” rating in a report on Wednesday, December 16th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $81.88.

MSC Industrial Direct stock traded down $1.21 during mid-day trading on Thursday, hitting $83.85. The company had a trading volume of 14,006 shares, compared to its average volume of 461,625. MSC Industrial Direct has a 12 month low of $44.93 and a 12 month high of $87.84. The company has a market capitalization of $4.68 billion, a PE ratio of 20.67 and a beta of 0.99. The stock’s 50 day moving average price is $83.21 and its two-hundred day moving average price is $75.62. 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 was paid on Tuesday, January 26th. Investors of record on Tuesday, January 12th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, January 11th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 63.29%.

In other MSC Industrial Direct news, SVP Gregory Polli sold 15,570 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $84.36, for a total value of $1,313,485.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip Peller sold 1,789 shares of the stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $86.82, for a total transaction of $155,320.98. Over the last three months, insiders sold 52,405 shares of company stock worth $4,415,854. 28.44% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MSM. Principal Financial Group Inc. increased its position in MSC Industrial Direct by 6.7% in the fourth quarter. Principal Financial Group Inc. now owns 210,946 shares of the industrial products company’s stock worth $17,802,000 after purchasing an additional 13,192 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of MSC Industrial Direct in the 4th quarter worth $230,000. Voloridge Investment Management LLC increased its holdings in shares of MSC Industrial Direct by 229.2% in the 4th quarter. Voloridge Investment Management LLC now owns 39,006 shares of the industrial products company’s stock worth $3,292,000 after buying an additional 27,159 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of MSC Industrial Direct in the 4th quarter valued at about $1,072,000. Finally, Truvestments Capital LLC increased its stake in MSC Industrial Direct by 7.4% during the fourth quarter. Truvestments Capital LLC now owns 11,551 shares of the industrial products company’s stock worth $974,000 after acquiring an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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, 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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