FY2024 Earnings Forecast for MSC Industrial Direct Co., Inc. (NYSE:MSM) Issued By William Blair

MSC Industrial Direct Co., Inc. (NYSE:MSM) – Equities research analysts at William Blair lowered their FY2024 earnings estimates for MSC Industrial Direct in a research report issued to clients and investors on Tuesday, July 2nd. William Blair analyst R. Merkel now expects that the industrial products company will earn $4.85 per share for the year, down from their prior forecast of $4.88. The consensus estimate for MSC Industrial Direct’s current full-year earnings is $4.89 per share. William Blair also issued estimates for MSC Industrial Direct’s Q4 2024 earnings at $1.09 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.07 EPS, FY2025 earnings at $4.84 EPS and FY2026 earnings at $5.50 EPS.

Several other research analysts have also issued reports on MSM. JPMorgan Chase & Co. dropped their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday. Robert W. Baird dropped their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Stephens reaffirmed an “overweight” rating and set a $110.00 price objective on shares of MSC Industrial Direct in a report on Friday, June 14th. StockNews.com cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Finally, Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.20.

MSC Industrial Direct Stock Down 1.9 %

Shares of MSM opened at $78.53 on Thursday. MSC Industrial Direct has a 52 week low of $75.05 and a 52 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 firm has a market capitalization of $4.42 billion, a P/E ratio of 14.10 and a beta of 0.88. The company has a 50-day simple moving average of $86.36 and a 200-day simple moving average of $93.68.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, meeting analysts’ consensus estimates of $1.33. The business had revenue of $979.40 million during the quarter, compared to analyst estimates of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.74 earnings per share.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC acquired a new stake in MSC Industrial Direct in the third quarter worth $490,000. Lazard Asset Management LLC raised its holdings in MSC Industrial Direct by 330.4% in the third quarter. Lazard Asset Management LLC now owns 108,131 shares of the industrial products company’s stock worth $10,612,000 after purchasing an additional 83,009 shares during the period. Glenmede Trust Co. NA acquired a new stake in MSC Industrial Direct in the third quarter worth $550,000. WealthPlan Investment Management LLC raised its holdings in MSC Industrial Direct by 332.0% in the third quarter. WealthPlan Investment Management LLC now owns 124,768 shares of the industrial products company’s stock worth $12,246,000 after purchasing an additional 95,887 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in MSC Industrial Direct by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 36,239 shares of the industrial products company’s stock worth $3,557,000 after purchasing an additional 2,254 shares during the period. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a yield of 4.23%. MSC Industrial Direct’s payout ratio is presently 59.61%.

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.