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

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

MSC Industrial Direct Stock Up 2.4 %

Shares of MSC Industrial Direct stock opened at $80.09 on Wednesday. The company has a fifty day moving average price of $86.66 and a 200 day moving average price of $93.78. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a twelve month low of $75.05 and a twelve month high of $105.77. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 14.38 and a beta of 0.88.

MSC Industrial Direct Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on MSM. Baird R W downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Loop Capital lowered MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research note on Monday, June 17th. Stephens restated an “overweight” rating and set a $110.00 price objective on shares of MSC Industrial Direct in a research report on Friday, June 14th. Robert W. Baird cut their price objective on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Finally, KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.00.

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.