Analysts expect that MSC Industrial Direct Co Inc (NYSE:MSM) will report $837.02 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for MSC Industrial Direct’s earnings. The lowest sales estimate is $836.00 million and the highest is $838.00 million. MSC Industrial Direct reported sales of $753.77 million in the same quarter last year, which indicates a positive year over year growth rate of 11%. The business is scheduled to announce its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that MSC Industrial Direct will report full-year sales of $3.20 billion for the current fiscal year, with estimates ranging from $3.20 billion to $3.21 billion. For the next financial year, analysts forecast that the firm will post sales of $3.44 billion per share, with estimates ranging from $3.40 billion to $3.46 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 11th. The industrial products company reported $1.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.39. The business had revenue of $828.30 million for the quarter, compared to analysts’ expectations of $834.43 million. MSC Industrial Direct had a net margin of 10.16% and a return on equity of 21.08%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share.
A number of equities research analysts have weighed in on the stock. ValuEngine cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. BMO Capital Markets cut their price target on shares of MSC Industrial Direct from $104.00 to $92.00 and set a “market perform” rating on the stock in a report on Thursday, July 12th. Wells Fargo & Co cut their price target on shares of MSC Industrial Direct from $95.00 to $87.00 and set a “market perform” rating on the stock in a report on Thursday, July 12th. Northcoast Research set a $95.00 price target on shares of MSC Industrial Direct and gave the company a “buy” rating in a report on Friday, July 13th. Finally, Zacks Investment Research cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Thursday, July 5th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $101.23.
MSM traded up $1.23 during midday trading on Friday, reaching $87.58. The company’s stock had a trading volume of 345,000 shares, compared to its average volume of 625,838. The stock has a market cap of $4.83 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.24 and a beta of 0.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.14 and a current ratio of 2.11. MSC Industrial Direct has a 1 year low of $67.93 and a 1 year high of $99.94.
In related news, Director Denis F. Kelly sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $88.43, for a total transaction of $132,645.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Gregory Polli sold 8,696 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $82.38, for a total transaction of $716,376.48. The disclosure for this sale can be found here. Corporate insiders own 31.38% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in MSC Industrial Direct during the second quarter valued at approximately $110,000. Asset Management One Co. Ltd. bought a new position in MSC Industrial Direct during the first quarter valued at approximately $191,000. Quantbot Technologies LP bought a new position in MSC Industrial Direct during the first quarter valued at approximately $199,000. CHICAGO TRUST Co NA bought a new position in MSC Industrial Direct during the second quarter valued at approximately $218,000. Finally, Nomura Holdings Inc. bought a new position in MSC Industrial Direct during the second quarter valued at approximately $219,000. Institutional investors own 75.20% of the company’s stock.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily 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, 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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