Fly News Breaks for September 12, 2019
MSM
Sep 12, 2019 | 07:22 EDT
Raymond James analyst Samuel Darkatsh downgraded MSC Industrial to Market Perform from Outperform citing valuation and demand weakness. In a research note to investors, the analyst lowered his Q4 and out-year estimates to reflect continued weakness in the MBI and rail traffic data, and now estimates FY19 EPS of $5.23 from $5.26 prior, and FY20 EPS of $5.23 from $5.75 prior. Darkatsh says despite the lowered financial expectations, the stock has recently rebounded along with the industrial sector, leaving its valuation no longer as compelling compared to historical levels.
News For MSM From the Last 2 Days