MSC Industrial Direct (NYSE:MSM) Announces Earnings Results

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

MSC Industrial Direct Price Performance

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 stock’s 50 day moving average price is $86.36 and its two-hundred day moving average price is $93.68. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 14.10 and a beta of 0.88. MSC Industrial Direct has a 12-month low of $75.05 and a 12-month high of $105.77.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders 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 yield of 4.23%. MSC Industrial Direct’s dividend payout ratio is 59.61%.

Analyst Ratings Changes

Several research firms have weighed in on MSM. JPMorgan Chase & Co. cut their target price on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday. Stephens reiterated an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. Loop Capital cut their target price 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. Robert W. Baird cut their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Finally, StockNews.com lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, MSC Industrial Direct currently 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.