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

MSC Industrial Direct (NYSE:MSM) posted 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. The company had revenue of $952.30 million during the quarter, compared to analysts’ expectations of $959.74 million. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS.

MSC Industrial Direct Stock Up 1.1 %

MSM stock opened at $78.63 on Friday. The firm has a 50 day moving average of $82.00 and a 200 day moving average of $84.36. The stock has a market capitalization of $4.41 billion, a PE ratio of 15.27 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a 52 week low of $75.05 and a 52 week high of $104.76.

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.32%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s payout ratio is presently 64.47%.

Analysts Set New Price Targets

MSM has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, 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. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.