|Bid||70.87 x 900|
|Ask||70.94 x 1000|
|Day's Range||70.42 - 71.03|
|52 Week Range||67.25 - 90.25|
|Beta (3Y Monthly)||1.25|
|PE Ratio (TTM)||13.37|
|Earnings Date||Apr 8, 2019 - Apr 12, 2019|
|Forward Dividend & Yield||3.00 (4.27%)|
|1y Target Est||74.89|
During its third-quarter earnings, MSC Industrial fell short of Wall Street's forecasts and also lowered its guidance amid sluggish sales. Yahoo Finance's Ines Ferre reports on the story.
Readers hoping to buy MSC Industrial Direct Co., Inc. (NYSE:MSM) for its dividend will need to make their move...
The industrial supply companies' results had a lot to say about the outlook for the upcoming quarterly reports -- not all of it good.
(Bloomberg) -- South African business leaders are becoming frustrated with the pace of reform under President Cyril Ramaphosa. His cabinet choices and spending pledges haven’t helped.His ascension to national leader in February last year was greeted with so-called “Ramaphoria,” as the rand and government bonds surged on expectations he would reform the struggling economy, crack down on corruption and replace non-performing cabinet members. Much of that rally was relief at seeing the end of Jacob Zuma’s nine-year tenure marked by corruption and few policy decisions. Since the end of the month when Ramaphosa took power the rand has declined 20% against the dollar. Patience for change in the business community is running out. Some key corporate figures say the cabinet Ramaphosa named after his May election victory hasn’t brought in enough fresh ideas, while his state-of-the-nation address in June was seen as full of feel-good spending pledges and no detail on funding.“Very tough decisions have to be taken. We have not yet seen any willingness to take those decisions. Time lines are short and pressures intense,” said Martin Kingston, executive chairman of Rothschild & Co.’s South African unit and vice president of the country’s main business lobby. “As a country we want to have our cake and eat it, and everyone else’s cake.”Bullet TrainsWhile Ramaphosa vowed to save the struggling state power utility, he also promised bullet trains and a new city. That’s in a nation where most municipalities struggle to provide basic services like housing and sanitation, and after South Africa’s economy posted its biggest quarterly contraction in a decade and investor confidence slid to near multi-year lows. The last-remaining investment grade rating at Moody’s Investors Service is under threat.Kingston’s sentiments were echoed by three chief executive officers of large companies and a senior business association leader, all of whom declined to be identified as their organizations haven’t publicly commented. They all said Ramaphosa had been forced to compromise because of his narrow victory in a 2017 party election, and the opposition he faces from a faction within the ruling ANC that’s still loyal to Zuma.Presidency spokeswoman Khusela Diko didn’t answer a call to her mobile phone.Chief among the business leaders’ concerns were the appointments to head the education and labor ministries. Both posts are seen as key in a nation with one of the world’s worst-performing educational systems, a gaping skills shortage despite a 27% unemployment rate, and rigid labor laws that make it difficult to hire and fire workers and have boosted the power of labor unions.Labor LeaderAngie Motshekga, who has run the education portfolio since 2009, was reappointed to the post, while Thulas Nxesi, a former leader of the main teachers’ union, was moved to the Ministry of Labour and Employment. Nxesi had been criticized for defending irregular government spending on Zuma’s private home while he was public works minister. A union leader is unlikely to ease labor laws to make it easier to do business, the business leaders said.Ebrahim Patel, who’s economic development role was expanded to include trade and industry, had been criticized by some corporate leaders for intervening in the takeover of local retailer Massmart Holdings Ltd. by U.S. giant Wal-Mart Inc. to demand concessions.Even two appointments that have been welcomed by business -- bringing back Tito Mboweni as finance minister and Pravin Gordhan to public enterprises -- are seen as short-term postings.Mboweni has said he doesn’t want to stay in the position for too long and Gordhan, 70, has been attacked by the opposition Economic Freedom Fighters and the country’s anti-graft ombudsman for decisions while heading the South African Revenue Service a decade ago. Even though they are regarded as sound economic choices, few major reforms have been made since they were first appointed last year.Job Cuts?Concern over the cabinet among the business leaders was compounded by Ramaphosa’s spending pledges in his June 20 speech. While he pledged to accelerate 230 billion rand ($16 billion) in support for Eskom, he didn’t mention the job cuts and efficiency improvements the utility’s management says are needed.Christiaan Schutte, the CEO of South Africa’s biggest poultry producer, Astral Foods Ltd., was “flabbergasted” by talk of bullet trains and new cities when municipalities can’t provide basic services. In May, Astral said the inability of a municipality to supply one of its plants with water would cut profit by 85 million rand.Of the 28 ministers Ramaphosa appointed, only six hadn’t served in cabinet before.“We have many of the same economic players in similar or expanded portfolios,” Kingston said. “However, we don’t necessarily want the same policies. We have high hopes for meaningful change and urgent decision-making and action.”(Adds rand performance in second paragraph.)To contact the reporters on this story: Antony Sguazzin in Johannesburg at email@example.com;Roxanne Henderson in Johannesburg at firstname.lastname@example.orgTo contact the editors responsible for this story: John McCorry at email@example.com, Gordon Bell, Paul RichardsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
MSC Industrial (MSM) delivered earnings and revenue surprises of -3.33% and -1.73%, respectively, for the quarter ended May 2019. Do the numbers hold clues to what lies ahead for the stock?
MSC Industrial Direct Co. reported on Wednesday disappointing fiscal third-quarter results and provided a downbeat outlook, but also raised its quarterly dividend to lift the implied yield to more than double that of both the industrial sector and the S&P 500. The dividend was raised to 75 cents a share from 63 cents a share, with the new dividend payable Aug. 6 to shareholders of record on July 23. Based on the Tuesday's stock closing price of $72.27, the new annual dividend rate implies a dividend yield of 4.15%. In comparison, the implied yield for the SPDR Industrial Select Sector ETF is 2.01% and for the S&P 500 is 1.93%. The stock, which tumbled 9% in premarket trading, has lost 11.4% over the past three months while the industrial ETF has gained 1.4% and the S&P 500 has tacked on 3.2%.
MSC Industrial Direct Co. reported Wednesday a fiscal third-quarter profit and revenue that missed expectations and provided a downbeat outlook, while increasing its dividend by 19%. The distributor of metalworking and maintenance and repair products said net income for the quarter to June 1 rose to $79.6 million, or $1.44 a share, from $79.1 million, or $1.39 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.49. Net sales rose 4.6% to $866.5 million, but was below the FactSet consensus of $881.6 million. "Our fiscal third quarter performance leaves us disappointed," said Chief Executive Erik Gershwind. "We have seen a step-down in demand since April, while the pricing environment remains uncertain due to the overhang of tariffs and trade." For the fourth quarter, the company expects EPS of $1.21 to $1.27, below the FactSet consensus of $1.48, and sales of $835 million to $851 million, below expectations of $883 million. Separately, MSC raised its quarterly dividend to 75 cents a share from 63 cents a share, with the new dividend payable Aug. 6 to shareholders of record on July 23. MSC's stock, which was still inactive in the premarket, has lost 6.1% year to date through Tuesday while the Dow Jones Industrial Average has rallied 14.8%.
Increases Quarterly Dividend To $0.75 , Up 19 Percent MELVILLE, N.Y. and DAVIDSON, N.C. , July 10, 2019 /PRNewswire/ -- FISCAL Q3 2019 HIGHLIGHTS Net sales of $866.5 million , a 4.6% YoY increase, with ...
NEW YORK, NY / ACCESSWIRE / July 10, 2019 / MSC Industrial Direct Co., Inc. (NYSE: MSM ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on July 10, 2019 at 8:30 ...
Industrial tools and supplies distributor MSC Industrial Direct reports fiscal third-quarter earnings short of Wall Street forecasts and lowers its guidance amid sluggish sales.
Since MSC Industrial Direct Co., Inc. (NYSE:MSM) released its earnings in March 2019, it seems that analyst forecasts...
MSC Industrial (MSM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Is MSC Industrial Direct Co., Inc. (NYSE:MSM) a good dividend stock? How can we tell? Dividend paying companies with...
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Most investors tend to think that hedge funds and other asset managers are worthless, as they cannot beat even simple index fund portfolios. In fact, most people expect hedge funds to compete with and outperform the bull market that we have witnessed in recent years. However, hedge funds are generally partially hedged and aim at […]
We all regret not buying more stock back in early 2009. Shares were giveaway cheap and primed for huge rebounds. Today's article highlights a blue chip company, MSC Industrial Direct at a valuation last seen during those dark days of The Great Recession.
MELVILLE, N.Y. and DAVIDSON, N.C., June 17, 2019 /PRNewswire/ -- For the third consecutive year, IDG's Computerworld (http://www.computerworld.com) named MSC Industrial Supply Co. (MSM) among the Best Places to Work in IT as one of the 100 top organizations that challenge their IT staffs while providing great benefits and compensation. MSC, a premier distributor of Metalworking and Maintenance, Repair and Operations (MRO) supplies and services to industrial customers throughout North America, ranked No. 29 among large organizations on the list, its highest ranking to date. "Receiving recognition from Computerworld as a Best Place to Work in IT for the third year in a row and seeing an improved ranking from last year is a great confirmation of our efforts to attract and retain top IT talent.
MELVILLE, N.Y. and DAVIDSON, N.C. , June 17, 2019 /PRNewswire/ -- MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM) , a premier distributor of Metalworking and Maintenance, Repair and Operations (MRO) products and ...