MSC Industrial Direct Co Inc (NYSE:MSM) Expected to Post Earnings of $1.30 Per Share
Equities research analysts forecast that MSC Industrial Direct Co Inc (NYSE:MSM) will post $1.30 earnings per share for the current quarter, Zacks reports. Five analysts have provided estimates for MSC Industrial Direct’s earnings. The highest EPS estimate is $1.32 and the lowest is $1.29. MSC Industrial Direct reported earnings per share of $0.93 in the same quarter last year, which would suggest a positive year over year growth rate of 39.8%. The firm is scheduled to issue its next earnings report on Thursday, April 5th.
On average, analysts expect that MSC Industrial Direct will report full year earnings of $5.06 per share for the current fiscal year, with EPS estimates ranging from $4.46 to $5.20. For the next year, analysts forecast that the firm will report earnings of $5.99 per share, with EPS estimates ranging from $5.66 to $6.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow MSC Industrial Direct.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.01). The company had revenue of $768.60 million during the quarter, compared to analyst estimates of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. MSC Industrial Direct’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share.
Shares of MSC Industrial Direct (NYSE MSM) traded up $1.74 during mid-day trading on Friday, reaching $93.40. The company had a trading volume of 446,033 shares, compared to its average volume of 539,982. The company has a market cap of $5,272.99, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.36 and a beta of 0.64. MSC Industrial Direct has a twelve month low of $65.42 and a twelve month high of $104.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.04.
MSC Industrial Direct declared that its board has authorized a share repurchase program on Wednesday, January 10th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other MSC Industrial Direct news, SVP Christopher Davanzo sold 12,046 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $93.43, for a total transaction of $1,125,457.78. Following the completion of the transaction, the senior vice president now directly owns 12,432 shares of the company’s stock, valued at $1,161,521.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Charles Bonomo sold 14,946 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $98.79, for a total value of $1,476,515.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 783,437 shares of company stock worth $74,083,049. 31.28% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors Inc. grew its holdings in MSC Industrial Direct by 13.2% during the fourth quarter. Wasatch Advisors Inc. now owns 5,130 shares of the industrial products company’s stock valued at $496,000 after purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MSC Industrial Direct by 49.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,294 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 755 shares in the last quarter. LPL Financial LLC lifted its position in shares of MSC Industrial Direct by 24.0% during the fourth quarter. LPL Financial LLC now owns 4,508 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 873 shares in the last quarter. Vident Investment Advisory LLC lifted its position in shares of MSC Industrial Direct by 24.0% during the third quarter. Vident Investment Advisory LLC now owns 4,777 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 924 shares in the last quarter. Finally, Delpha Capital Management LLC purchased a new stake in shares of MSC Industrial Direct during the fourth quarter worth $111,000. 74.26% of the stock is owned by institutional investors and hedge funds.
About MSC Industrial Direct
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.