MSC Industrial Direct (NYSE:MSM) Releases Quarterly Earnings Results, Hits Expectations

MSC Industrial Direct (NYSE:MSM) released its earnings results on Tuesday. The industrial products company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33, Briefing.com reports. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The company had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. During the same period last year, the firm earned $1.74 EPS. The business’s revenue for the quarter was down 7.1% on a year-over-year basis.

MSC Industrial Direct Stock Down 1.9 %

Shares of MSM stock traded down $1.51 during trading hours on Thursday, hitting $78.51. 541,366 shares of the company were exchanged, compared to its average volume of 894,523. MSC Industrial Direct has a 52 week low of $75.05 and a 52 week high of $105.77. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $86.36 and a two-hundred day moving average of $93.68. The company has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88.

MSC Industrial Direct Announces Dividend

The business also recently declared 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. This represents a $3.32 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Tuesday, July 9th. MSC Industrial Direct’s payout ratio is currently 59.61%.

Analysts Set New Price Targets

Several analysts have commented on MSM shares. Robert W. Baird dropped their target price on shares of 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. KeyCorp downgraded MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Baird R W lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Loop Capital decreased their target price on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.20.

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.