MSC Industrial Direct Co Inc (NYSE:MSM) estimate earnings lower than market forecast for the present quarter as its customers look to lower spending.
Industrial products distributor MSC Industrial anticipates Q4 earnings in the range of $1.05 to $1.09 a share.
Thomson Reuters data confirms that analysts On average forecasted a profit of $1.10 a share.
The company reported that net income for the Q3 finished May 26 moved up to $70.2 million or $1.10 a share, from $62.1 million or 97 cents per share in previous year. Industrial products distributor’s sales climbed 15% to $612 million.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Applied Industrial Technologies (NYSE:AIT) increased +1.35% to settle at $35.32, Lawson Products, Inc. (NASDAQ:LAWS) moved up +1.34% to end at $9.07 while Fastenal Company (NASDAQ:FAST) jumped +0.68% to finish on Thursday at $38.63.
MSC Industrial Direct Co Inc (NYSE:MSM) last session volume of 1.89 million shares was higher than its average volume of 626,655.00 shares. The stock after opening at $63.34 hit high price of $66.24 and then closed at $65.07 by scoring +4.25%.
MSM generated revenue of 2.17 billion in the following twelve months and earned $239.39 million. The Company showed a negative 11.10% in the net profit margin and as well as in its operating margin which remained 17.72%. Company’s annual sales growth for the past five year was 8.94%.
The MSM past twelve months price to sales ratio was 1.89 and price to cash ratio remained 37.82. As far as the returns are concern, the MSM return on equity was recorded as 23.35% and increased 21.93% return on investment while its return on asset stayed at +19.33%.
The stock showed weekly downbeat performance of -0.49% which was maintained for the month at -10.62%. Likewise the negative performance for the quarter was recorded as -21.88% and for the year was -3.17% while the YTD performance remained at -8.47%.
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