MSC Industrial Direct (NYSE:MSM) Posts Earnings Results, Meets Estimates

MSC Industrial Direct (NYSE:MSM) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.33 EPS for the quarter, hitting analysts’ consensus estimates 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 company had revenue of $979.40 million during the quarter, compared to analyst estimates of $979.10 million. During the same quarter last year, the firm posted $1.74 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis.

MSC Industrial Direct Stock Down 1.9 %

NYSE MSM traded down $1.51 during mid-day trading on Thursday, reaching $78.51. The stock had a trading volume of 541,366 shares, compared to its average volume of 894,523. The company has a fifty day moving average price of $86.36 and a 200 day moving average price 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 has a 1 year low of $75.05 and a 1 year high of $105.77. The stock has a market cap of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88.

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th will be paid a $0.83 dividend. 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 presently 59.61%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MSM shares. StockNews.com cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. JPMorgan Chase & Co. dropped their price target on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a research 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 research report on Wednesday, May 29th. Finally, KeyCorp cut shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, MSC Industrial Direct has an average 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.