MSC Industrial Direct (NYSE:MSM) Announces Quarterly Earnings Results

MSC Industrial Direct (NYSE:MSM) posted its quarterly earnings results on Tuesday. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.33, Briefing.com reports. The company had revenue of $979.40 million for the quarter, compared to analyst estimates of $979.10 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the business posted $1.74 EPS.

MSC Industrial Direct Trading Up 2.4 %

Shares of MSM stock opened at $80.09 on Wednesday. MSC Industrial Direct has a 12-month low of $75.05 and a 12-month high of $105.77. The company has a market capitalization of $4.51 billion, a P/E ratio of 14.38 and a beta of 0.88. The firm has a 50-day moving average price of $86.66 and a 200 day moving average price of $93.78. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.15%. The ex-dividend date is Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

Analyst Upgrades and Downgrades

MSM has been the topic of several research analyst reports. Loop Capital lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research report on Monday, June 17th. Baird R W lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. StockNews.com lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, KeyCorp lowered shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Hold” and an average target price of $94.00.

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.