MSC Industrial Direct (NYSE:MSM) Releases Earnings Results, Meets Expectations

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

MSC Industrial Direct Stock Performance

MSM opened at $78.53 on Thursday. The firm has a market cap of $4.42 billion, a P/E ratio of 14.10 and a beta of 0.88. MSC Industrial Direct has a 1-year low of $75.05 and a 1-year high of $105.77. The company has a 50 day simple moving average of $86.36 and a two-hundred day simple moving average of $93.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be given 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 dividend yield of 4.23%. MSC Industrial Direct’s payout ratio is currently 59.61%.

Analysts Set New Price Targets

MSM has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Loop Capital decreased their price objective 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. Finally, StockNews.com cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $90.20.

About MSC Industrial Direct

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.