Zacks: Analysts Expect MSC Industrial Direct Co Inc (MSM) Will Announce Earnings of $1.28 Per Share

Equities analysts expect MSC Industrial Direct Co Inc (NYSE:MSM) to report earnings of $1.28 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for MSC Industrial Direct’s earnings, with the highest EPS estimate coming in at $1.30 and the lowest estimate coming in at $1.24. MSC Industrial Direct reported earnings of $1.07 per share during the same quarter last year, which would indicate a positive year over year growth rate of 19.6%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that MSC Industrial Direct will report full-year earnings of $5.06 per share for the current financial year, with EPS estimates ranging from $5.02 to $5.09. For the next year, analysts anticipate that the company will report earnings of $5.90 per share, with EPS estimates ranging from $5.55 to $6.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 11th. The industrial products company reported $1.39 EPS for the quarter, hitting analysts’ consensus estimates of $1.39. The company had revenue of $828.30 million during the quarter, compared to the consensus estimate of $834.43 million. MSC Industrial Direct had a net margin of 10.16% and a return on equity of 21.08%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS.

A number of research firms have recently commented on MSM. BMO Capital Markets reduced their price objective on shares of MSC Industrial Direct from $104.00 to $92.00 and set a “market perform” rating for the company in a report on Thursday, July 12th. Zacks Investment Research downgraded shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Thursday, July 5th. Wells Fargo & Co reduced their price objective on shares of MSC Industrial Direct from $95.00 to $87.00 and set a “market perform” rating for the company in a report on Thursday, July 12th. ValuEngine raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Finally, Northcoast Research set a $95.00 price objective on shares of MSC Industrial Direct and gave the stock a “buy” rating in a report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. MSC Industrial Direct presently has an average rating of “Hold” and a consensus target price of $101.23.

Shares of NYSE:MSM traded down $1.62 during midday trading on Monday, reaching $87.00. 313,100 shares of the company’s stock were exchanged, compared to its average volume of 603,621. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.10 and a beta of 0.53. MSC Industrial Direct has a 12 month low of $72.51 and a 12 month high of $99.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.14 and a current ratio of 2.11.

In related news, SVP Gregory Polli sold 8,696 shares of MSC Industrial Direct stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $82.38, for a total transaction of $716,376.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denis F. Kelly sold 1,500 shares of MSC Industrial Direct stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $88.43, for a total transaction of $132,645.00. The disclosure for this sale can be found here. Company insiders own 31.38% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp increased its position in MSC Industrial Direct by 6.0% in the 2nd quarter. Northern Trust Corp now owns 417,264 shares of the industrial products company’s stock valued at $35,405,000 after acquiring an additional 23,621 shares in the last quarter. Bank of New York Mellon Corp increased its position in MSC Industrial Direct by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 722,546 shares of the industrial products company’s stock valued at $61,307,000 after acquiring an additional 111,652 shares in the last quarter. Schroder Investment Management Group increased its position in MSC Industrial Direct by 7.5% in the 2nd quarter. Schroder Investment Management Group now owns 986,268 shares of the industrial products company’s stock valued at $84,001,000 after acquiring an additional 68,896 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in MSC Industrial Direct in the 2nd quarter valued at about $4,606,000. Finally, Nomura Holdings Inc. acquired a new stake in MSC Industrial Direct in the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

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