Zacks: Analysts Expect MSC Industrial Direct Co., Inc. (NYSE:MSM) to Announce $1.26 Earnings Per Share

Equities research analysts expect that MSC Industrial Direct Co., Inc. (NYSE:MSM) will post earnings per share of $1.26 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for MSC Industrial Direct’s earnings, with the lowest EPS estimate coming in at $1.24 and the highest estimate coming in at $1.31. MSC Industrial Direct reported earnings of $1.09 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, October 20th.

On average, analysts expect that MSC Industrial Direct will report full year earnings of $4.80 per share for the current financial year, with EPS estimates ranging from $4.78 to $4.87. For the next year, analysts anticipate that the firm will report earnings of $5.43 per share, with EPS estimates ranging from $5.29 to $5.75. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Tuesday, July 6th. The industrial products company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.37 by $0.05. MSC Industrial Direct had a return on equity of 22.06% and a net margin of 6.44%. The business had revenue of $866.30 million for the quarter, compared to the consensus estimate of $848.61 million. During the same period in the previous year, the business earned $1.40 EPS. MSC Industrial Direct’s revenue was up 3.7% compared to the same quarter last year.

Several equities research analysts have commented on the company. Zacks Investment Research cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Tuesday. Loop Capital started coverage on MSC Industrial Direct in a research note on Tuesday, August 3rd. They set a “hold” rating and a $92.00 price objective on the stock. Stephens upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research note on Thursday, July 8th. KeyCorp dropped their price objective on shares of MSC Industrial Direct from $102.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of MSC Industrial Direct from $96.00 to $98.00 and gave the stock a “hold” rating in a report on Thursday, July 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, MSC Industrial Direct has an average rating of “Buy” and a consensus target price of $98.50.

NYSE MSM traded down $0.74 during trading on Tuesday, reaching $80.91. 328,668 shares of the stock traded hands, compared to its average volume of 381,138. MSC Industrial Direct has a fifty-two week low of $61.29 and a fifty-two week high of $96.23. The company has a quick ratio of 0.92, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $84.00 and its 200 day moving average price is $88.44. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 22.29 and a beta of 1.09.

In other news, SVP Edward F. Martin, Jr. sold 705 shares of the company’s stock in a transaction that occurred on Thursday, July 8th. The stock was sold at an average price of $90.72, for a total transaction of $63,957.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 28.44% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MSM. FMR LLC grew its position in shares of MSC Industrial Direct by 174.6% during the 2nd quarter. FMR LLC now owns 1,101,002 shares of the industrial products company’s stock valued at $98,793,000 after acquiring an additional 700,109 shares during the period. BlackRock Inc. boosted its position in shares of MSC Industrial Direct by 11.5% during the 1st quarter. BlackRock Inc. now owns 4,365,395 shares of the industrial products company’s stock valued at $393,714,000 after acquiring an additional 448,798 shares during the last quarter. Nitorum Capital L.P. purchased a new position in shares of MSC Industrial Direct in the 1st quarter worth about $32,883,000. Clearbridge Investments LLC boosted its stake in shares of MSC Industrial Direct by 125.0% in the 1st quarter. Clearbridge Investments LLC now owns 504,988 shares of the industrial products company’s stock valued at $45,545,000 after purchasing an additional 280,540 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of MSC Industrial Direct by 1,135.6% during the first quarter. SG Americas Securities LLC now owns 258,540 shares of the industrial products company’s stock valued at $23,318,000 after acquiring an additional 237,616 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc engages in the distribution of metalworking, and maintenance, repair, and operations products and services to manufacturing companies. Its products include cutting tools, measuring instruments, tooling components, metalworking, fasteners, flat stock, 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 and Estimates for MSC Industrial Direct (NYSE:MSM)

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