MSC Industrial Direct (NYSE:MSM) Issues Earnings Results

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

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $78.53 on Thursday. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88. The stock’s 50 day moving average price is $86.36 and its 200-day moving average price is $93.68. MSC Industrial Direct has a twelve month low of $75.05 and a twelve month high of $105.77.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, July 9th. This represents a $3.32 annualized dividend and a dividend yield of 4.23%. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Loop Capital lowered their price objective on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday. Baird R W lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. cut their price target on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Finally, Stephens restated an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.