Not liking MSC Industrial Direct's earnings report
*WARNING* I am biased in that my stake of 60 shares was slashed yesterday in half to 30 on the premise of expecting a bad earnings report. So take this opinion with a grain of salt.
But, I guess I have great trepidation here seeing the share price go up over this earnings report.. I have enough CASHOLA to just buy back what I sold (stomache the loss given that the share price is higher) and probably gain some additional shares.
However, MSC Industrial Direct's forward looking earnings estimate was below expectations.
Last time I checked a good earnings report MUST have a good forward earnings expectation, not just a Top Line Earnings beat in the previous quarter.
I still stand by (MSM) as a great long term investment.... But I don't stand by the stock being priced at $37.00+ at this time. There needs to be evidence of actual growth coming around the corner rather than the mere *hope* that there will be..
I guess HOPE and CHANGE doesn't work me! So, I'll wait this one out and see if the Share Price drops to a $34 handle before I step in and scoop.
The only loss is not much.. If the share price never drops to an inviting level... I GAIN MONEY off of still owning 30 shares..... If the share DOES DROP... then great.. I'll buy more aggressively and hopefully in time to collect on the Dividend at the end of this month.