Q3 2024 Earnings Forecast for MSC Industrial Direct Co., Inc. (NYSE:MSM) Issued By KeyCorp

MSC Industrial Direct Co., Inc. (NYSE:MSM) – Analysts at KeyCorp cut their Q3 2024 earnings per share (EPS) estimates for shares of MSC Industrial Direct in a research note issued on Sunday, June 16th. KeyCorp analyst K. Newman now expects that the industrial products company will post earnings of $1.32 per share for the quarter, down from their prior forecast of $1.66. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for MSC Industrial Direct’s current full-year earnings is $5.52 per share. KeyCorp also issued estimates for MSC Industrial Direct’s Q4 2024 earnings at $1.11 EPS, FY2024 earnings at $4.87 EPS, Q4 2025 earnings at $1.44 EPS and FY2025 earnings at $5.35 EPS.

Other analysts also recently issued reports about the company. Robert W. Baird reduced their target price on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Stephens reaffirmed an “overweight” rating and set a $110.00 price objective on shares of MSC Industrial Direct in a research note on Friday, June 14th. Baird R W downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Loop Capital downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $93.00.

MSC Industrial Direct Stock Up 0.9 %

MSC Industrial Direct stock opened at $79.45 on Wednesday. MSC Industrial Direct has a fifty-two week low of $75.05 and a fifty-two week high of $105.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The company has a market capitalization of $4.47 billion, a P/E ratio of 14.26 and a beta of 0.89. The stock has a 50-day simple moving average of $89.58 and a 200-day simple moving average of $95.32.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.02. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The business had revenue of $935.30 million during the quarter, compared to the consensus estimate of $946.55 million. During the same period in the previous year, the business earned $1.45 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is presently 59.61%.

Hedge Funds Weigh In On MSC Industrial Direct

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new position in MSC Industrial Direct during the 4th quarter worth approximately $25,000. Future Financial Wealth Managment LLC acquired a new position in MSC Industrial Direct during the 1st quarter worth approximately $29,000. Bessemer Group Inc. increased its position in MSC Industrial Direct by 261.7% during the 1st quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 280 shares during the period. GAMMA Investing LLC acquired a new position in MSC Industrial Direct during the 4th quarter worth approximately $40,000. Finally, Quarry LP acquired a new position in MSC Industrial Direct during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

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.