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

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

MSC Industrial Direct Stock Up 2.3 %

MSC Industrial Direct stock traded up $1.79 during midday trading on Friday, reaching $79.58. The stock had a trading volume of 285,475 shares, compared to its average volume of 565,805. MSC Industrial Direct has a 12 month low of $75.05 and a 12 month high of $104.76. The company has a market capitalization of $4.47 billion, a P/E ratio of 15.49 and a beta of 0.86. The company has a fifty day moving average price of $82.03 and a two-hundred day moving average price of $84.47. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on MSM. JPMorgan Chase & Co. dropped their price objective on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday. Robert W. Baird boosted their price objective on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Loop Capital dropped their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company 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.