Northcoast Research Comments on MSC Industrial Direct Co Inc’s Q2 2019 Earnings (MSM)

MSC Industrial Direct Co Inc (NYSE:MSM) – Equities research analysts at Northcoast Research reduced their Q2 2019 earnings per share (EPS) estimates for shares of MSC Industrial Direct in a research report issued on Thursday, January 10th. Northcoast Research analyst R. Cieslak now forecasts that the industrial products company will post earnings of $1.25 per share for the quarter, down from their previous forecast of $1.32. Northcoast Research also issued estimates for MSC Industrial Direct’s Q3 2019 earnings at $1.60 EPS, Q4 2019 earnings at $1.52 EPS, FY2019 earnings at $5.70 EPS and FY2020 earnings at $6.20 EPS.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 9th. The industrial products company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.32 by $0.01. The company had revenue of $831.60 million during the quarter, compared to the consensus estimate of $830.60 million. MSC Industrial Direct had a net margin of 10.53% and a return on equity of 21.97%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS.

Several other brokerages also recently commented on MSM. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Wednesday, September 26th. Gordon Haskett began coverage on shares of MSC Industrial Direct in a research report on Friday, October 12th. They set a “buy” rating for the company. Buckingham Research began coverage on shares of MSC Industrial Direct in a research report on Friday, October 12th. They set a “neutral” rating and a $89.00 price objective for the company. Wells Fargo & Co reduced their price objective on shares of MSC Industrial Direct from $87.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, December 21st. Finally, Jefferies Financial Group assumed coverage on shares of MSC Industrial Direct in a research report on Monday. They set a “buy” rating and a $92.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $98.42.

Shares of MSM stock opened at $78.64 on Friday. The company has a market cap of $4.29 billion, a PE ratio of 15.48, a P/E/G ratio of 1.04 and a beta of 0.77. MSC Industrial Direct has a 52 week low of $73.28 and a 52 week high of $99.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.37 and a quick ratio of 1.28.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 22nd. Investors of record on Tuesday, January 8th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, January 7th. MSC Industrial Direct’s dividend payout ratio is currently 49.61%.

In other MSC Industrial Direct news, CFO Rustom Jilla sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $87.50, for a total transaction of $218,750.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David Wright sold 5,404 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $89.00, for a total value of $480,956.00. The disclosure for this sale can be found here. 27.96% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Macquarie Group Ltd. bought a new position in MSC Industrial Direct during the 2nd quarter valued at $110,000. Twin Tree Management LP bought a new stake in shares of MSC Industrial Direct during the 3rd quarter worth $126,000. Nomura Holdings Inc. bought a new stake in shares of MSC Industrial Direct during the 2nd quarter worth $219,000. Cerebellum GP LLC raised its stake in shares of MSC Industrial Direct by 37.6% during the 4th quarter. Cerebellum GP LLC now owns 2,760 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 754 shares during the period. Finally, AMP Capital Investors Ltd bought a new stake in shares of MSC Industrial Direct during the 2nd quarter worth $331,000. Institutional investors and hedge funds own 75.87% 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 in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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