MSC Industrial Direct Company, Inc. to Post FY2018 Earnings of $4.55 Per Share, Gabelli Forecasts (MSM)
MSC Industrial Direct Company, Inc. (NYSE:MSM) – Equities research analysts at Gabelli boosted their FY2018 earnings per share (EPS) estimates for shares of MSC Industrial Direct in a note issued to investors on Wednesday. Gabelli analyst J. Bergner now expects that the industrial products company will earn $4.55 per share for the year, up from their previous forecast of $4.45. Gabelli has a “Buy” rating and a $94.00 price objective on the stock. Gabelli also issued estimates for MSC Industrial Direct’s FY2019 earnings at $4.95 EPS, FY2020 earnings at $5.30 EPS and FY2021 earnings at $5.55 EPS.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The business had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. During the same quarter in the previous year, the firm earned $1.02 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year.
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Several other equities analysts have also recently commented on MSM. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Saturday, July 8th. Credit Suisse Group cut their price target on MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, July 13th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 target price (down from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. Stifel Nicolaus reissued a “hold” rating and issued a $78.00 target price (down from $88.00) on shares of MSC Industrial Direct in a report on Friday, July 14th. Finally, BMO Capital Markets dropped their target price on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $88.86.
MSC Industrial Direct (NYSE MSM) traded down $0.57 during midday trading on Thursday, hitting $82.33. The company had a trading volume of 905,449 shares, compared to its average volume of 644,433. The firm has a market capitalization of $4,687.62, a price-to-earnings ratio of 20.38 and a beta of 0.64.
A number of institutional investors have recently modified their holdings of MSM. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MSC Industrial Direct by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after buying an additional 123 shares during the period. PNC Financial Services Group Inc. raised its stake in MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after buying an additional 8 shares during the period. QS Investors LLC raised its stake in MSC Industrial Direct by 0.5% during the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after buying an additional 8 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in MSC Industrial Direct by 1,373.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock worth $167,000 after buying an additional 2,060 shares during the period. Finally, Numeric Investors LLC acquired a new stake in MSC Industrial Direct during the 2nd quarter worth $206,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Monday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.45. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 44.55%.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include 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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