MSC Industrial Direct (NYSE:MSM) Issues Earnings Results

MSC Industrial Direct (NYSE:MSM - Get Free Report) released its quarterly earnings results on Thursday. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05), Briefing.com reports. The firm had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. MSC Industrial Direct's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 earnings per share.

MSC Industrial Direct Trading Up 1.1 %

Shares of MSC Industrial Direct stock traded up $0.84 during trading on Friday, hitting $78.63. The stock had a trading volume of 1,166,834 shares, compared to its average volume of 570,063. The stock has a 50 day simple moving average of $82.03 and a 200 day simple moving average of $84.47. The company has a market capitalization of $4.41 billion, a PE ratio of 15.49 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a 1 year low of $75.05 and a 1 year high of $104.76.

MSC Industrial Direct Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.85 dividend. This is an increase from MSC Industrial Direct's previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Wednesday, November 13th. MSC Industrial Direct's payout ratio is presently 64.47%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a report on Friday. Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Finally, Loop Capital decreased their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a "hold" rating for the company in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.