William Blair Comments on MSC Industrial Direct Co., Inc.’s Q3 2022 Earnings (NYSE:MSM)

MSC Industrial Direct Co., Inc. (NYSE:MSM) – Equities research analysts at William Blair boosted their Q3 2022 earnings per share (EPS) estimates for shares of MSC Industrial Direct in a research note issued to investors on Wednesday, October 20th. William Blair analyst R. Merkel now anticipates that the industrial products company will post earnings of $1.64 per share for the quarter, up from their previous forecast of $1.60. William Blair also issued estimates for MSC Industrial Direct’s Q4 2022 earnings at $1.74 EPS.

MSM has been the subject of several other research reports. Stephens upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $115.00 target price for the company in a research report on Thursday, July 8th. Deutsche Bank Aktiengesellschaft lifted their target price on MSC Industrial Direct from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Thursday, July 15th. KeyCorp decreased their target price on MSC Industrial Direct from $102.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, September 27th. Zacks Investment Research cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Tuesday, September 28th. Finally, Loop Capital initiated coverage on MSC Industrial Direct in a report on Tuesday, August 3rd. They issued a “hold” rating and a $92.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $98.86.

Shares of MSM opened at $81.90 on Monday. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 22.56 and a beta of 1.09. The stock has a 50 day moving average of $82.76 and a 200-day moving average of $87.74. The company has a current ratio of 1.70, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. MSC Industrial Direct has a 52 week low of $66.01 and a 52 week high of $96.23.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, October 19th. The industrial products company reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $831.00 million during the quarter, compared to analyst estimates of $836.64 million. MSC Industrial Direct had a return on equity of 22.06% and a net margin of 6.44%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 30th. Shareholders of record on Tuesday, November 16th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, November 15th. This represents a $3.00 dividend on an annualized basis and a yield of 3.66%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 63.29%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in MSC Industrial Direct by 9.1% in the second quarter. American Century Companies Inc. now owns 2,684,662 shares of the industrial products company’s stock valued at $240,895,000 after purchasing an additional 222,996 shares in the last quarter. State Street Corp lifted its position in shares of MSC Industrial Direct by 8.7% in the second quarter. State Street Corp now owns 1,216,452 shares of the industrial products company’s stock worth $109,152,000 after buying an additional 97,482 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of MSC Industrial Direct by 13.7% in the first quarter. Janus Henderson Group PLC now owns 1,212,366 shares of the industrial products company’s stock worth $109,343,000 after buying an additional 146,163 shares during the last quarter. FMR LLC lifted its position in shares of MSC Industrial Direct by 174.6% in the second quarter. FMR LLC now owns 1,101,002 shares of the industrial products company’s stock worth $98,793,000 after buying an additional 700,109 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of MSC Industrial Direct by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 878,614 shares of the industrial products company’s stock worth $78,836,000 after buying an additional 45,041 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc engages in the distribution of metalworking, and maintenance, repair, and operations products and services to manufacturing companies. Its products include cutting tools, measuring instruments, tooling components, metalworking, 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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Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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