$954.12 Million in Sales Expected for MSC Industrial Direct Co., Inc. (NYSE:MSM) This Quarter

Wall Street brokerages expect MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) to announce sales of $954.12 million for the current quarter, according to Zacks. Four analysts have provided estimates for MSC Industrial Direct’s earnings, with the highest sales estimate coming in at $969.90 million and the lowest estimate coming in at $921.51 million. MSC Industrial Direct reported sales of $866.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that MSC Industrial Direct will report full year sales of $3.66 billion for the current fiscal year, with estimates ranging from $3.59 billion to $3.70 billion. For the next financial year, analysts expect that the firm will report sales of $3.82 billion, with estimates ranging from $3.67 billion to $3.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover MSC Industrial Direct.

MSC Industrial Direct (NYSE:MSMGet Rating) last issued its quarterly earnings data on Wednesday, March 30th. The industrial products company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. The firm had revenue of $862.50 million for the quarter, compared to the consensus estimate of $856.03 million. MSC Industrial Direct had a net margin of 8.70% and a return on equity of 24.70%. MSC Industrial Direct’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS.

Several brokerages recently weighed in on MSM. Zacks Investment Research downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Thursday. KeyCorp boosted their price target on shares of MSC Industrial Direct from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 31st. StockNews.com upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Tuesday, May 17th. Robert W. Baird boosted their price target on shares of MSC Industrial Direct from $103.00 to $105.00 in a research report on Thursday, March 31st. Finally, Loop Capital boosted their target price on shares of MSC Industrial Direct from $88.00 to $93.00 in a report on Thursday, March 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $101.17.

In related news, Director Louise K. Goeser sold 2,440 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $82.47, for a total transaction of $201,226.80. Following the transaction, the director now directly owns 9,763 shares of the company’s stock, valued at $805,154.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas E. Jones sold 31,635 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $86.00, for a total transaction of $2,720,610.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,325 shares of company stock worth $3,629,109. 28.28% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MSM. BlackRock Inc. lifted its stake in MSC Industrial Direct by 34.8% in the first quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock valued at $467,024,000 after acquiring an additional 1,414,485 shares during the last quarter. Norges Bank acquired a new stake in shares of MSC Industrial Direct in the fourth quarter worth $37,861,000. American Century Companies Inc. lifted its stake in shares of MSC Industrial Direct by 11.7% in the first quarter. American Century Companies Inc. now owns 3,503,731 shares of the industrial products company’s stock worth $298,553,000 after buying an additional 368,106 shares during the last quarter. 59 North Capital Management LP acquired a new stake in shares of MSC Industrial Direct in the first quarter worth $23,130,000. Finally, Morgan Stanley lifted its stake in shares of MSC Industrial Direct by 121.9% in the second quarter. Morgan Stanley now owns 432,308 shares of the industrial products company’s stock worth $38,790,000 after buying an additional 237,520 shares during the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

NYSE:MSM traded up $0.09 during mid-day trading on Monday, hitting $85.20. The stock had a trading volume of 3,569 shares, compared to its average volume of 464,697. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 16.09 and a beta of 1.00. The company has a 50 day simple moving average of $83.75 and a 200-day simple moving average of $82.43. MSC Industrial Direct has a 52 week low of $74.20 and a 52 week high of $95.29. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Tuesday, April 12th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, April 11th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 56.71%.

MSC Industrial Direct Company Profile (Get Rating)

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, and the United Kingdom. Its 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.

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