William Blair Weighs in on MSC Industrial Direct Company, Inc.’s FY2017 Earnings (MSM)

MSC Industrial Direct Company, Inc. (NYSE:MSM) – Equities researchers at William Blair dropped their FY2017 earnings estimates for MSC Industrial Direct in a note issued to investors on Wednesday. William Blair analyst R. Merkel now anticipates that the industrial products company will earn $3.97 per share for the year, down from their previous estimate of $4.00. William Blair also issued estimates for MSC Industrial Direct’s Q4 2017 earnings at $0.99 EPS and FY2018 earnings at $4.35 EPS.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Saturday, July 8th. Raymond James Financial, Inc. raised shares of MSC Industrial Direct from a “market perform” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, April 19th. Stifel Nicolaus reissued a “hold” rating and set a $88.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a report on Monday, June 12th. BMO Capital Markets decreased their price objective on shares of 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. Finally, Robert W. Baird reissued a “neutral” rating and set a $85.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $92.00.

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MSC Industrial Direct (NYSE MSM) traded down 1.13% on Monday, hitting $72.86. 446,074 shares of the stock were exchanged. The company has a 50-day moving average of $83.55 and a 200-day moving average of $93.54. MSC Industrial Direct has a 12 month low of $69.96 and a 12 month high of $105.70. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 18.17 and a beta of 0.54.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The firm had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. During the same period in the prior year, the firm earned $1.05 EPS. The company’s revenue was up 2.3% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, July 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.44%. MSC Industrial Direct’s dividend payout ratio is currently 45.11%.

Several institutional investors have recently bought and sold shares of MSM. Vanguard Group Inc. raised its position in MSC Industrial Direct by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock worth $457,315,000 after buying an additional 37,928 shares during the last quarter. BlackRock Inc. raised its position in MSC Industrial Direct by 7,681.5% in the first quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock worth $382,836,000 after buying an additional 3,677,680 shares during the last quarter. FMR LLC raised its position in MSC Industrial Direct by 72.5% in the first quarter. FMR LLC now owns 3,074,574 shares of the industrial products company’s stock worth $315,943,000 after buying an additional 1,292,581 shares during the last quarter. State Street Corp raised its position in MSC Industrial Direct by 1.7% in the first quarter. State Street Corp now owns 1,203,471 shares of the industrial products company’s stock worth $123,670,000 after buying an additional 20,473 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in MSC Industrial Direct by 35.6% in the first quarter. AQR Capital Management LLC now owns 900,428 shares of the industrial products company’s stock worth $92,528,000 after buying an additional 236,604 shares during the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.

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.

Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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