MSC Industrial Direct (NYSE:MSM) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

MSC Industrial Direct (NYSE:MSM) announced its quarterly earnings results on Thursday. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05), 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 $952.30 million for the quarter, compared to analysts’ expectations of $959.74 million. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis.

MSC Industrial Direct Stock Performance

Shares of MSM opened at $78.67 on Friday. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.41 billion, a PE ratio of 15.28 and a beta of 0.86. MSC Industrial Direct has a 12 month low of $75.05 and a 12 month high of $104.76. The stock has a fifty day moving average price of $82.00 and a 200-day moving average price of $84.29.

MSC Industrial Direct Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.85 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Wednesday, November 13th. MSC Industrial Direct’s payout ratio is currently 64.47%.

Analyst Ratings Changes

MSM has been the topic of several recent research reports. 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 research report on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Robert W. Baird boosted their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.