Analysts expect that ScanSource, Inc. (NASDAQ:SCSC) will announce sales of $984.60 million for the current quarter, Zacks reports. Two analysts have provided estimates for ScanSource’s earnings, with estimates ranging from $980.00 million to $989.20 million. ScanSource reported sales of $924.56 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The company is scheduled to report its next earnings report on Monday, November 5th.
According to Zacks, analysts expect that ScanSource will report full-year sales of $4.03 billion for the current fiscal year, with estimates ranging from $3.98 billion to $4.08 billion. For the next year, analysts anticipate that the firm will post sales of $4.15 billion per share, with estimates ranging from $4.12 billion to $4.19 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for ScanSource.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, August 28th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The firm had revenue of $993.90 million during the quarter, compared to analysts’ expectations of $974.20 million. ScanSource had a net margin of 0.86% and a return on equity of 9.23%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share.
Several research firms have recently weighed in on SCSC. BidaskClub upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Zacks Investment Research cut shares of ScanSource from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Finally, Raymond James upped their price target on shares of ScanSource from $44.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, August 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $46.00.
In other news, CFO Gerald Lyons sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $44.00, for a total value of $26,400.00. Following the completion of the transaction, the chief financial officer now owns 12,937 shares in the company, valued at $569,228. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 13,747 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $604,868.00. Following the completion of the transaction, the chief executive officer now owns 49,446 shares of the company’s stock, valued at approximately $2,175,624. The disclosure for this sale can be found here. 2.35% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in ScanSource during the first quarter worth $127,000. KBC Group NV acquired a new position in ScanSource during the first quarter worth $184,000. Summit Trail Advisors LLC boosted its holdings in ScanSource by 2,721.3% during the first quarter. Summit Trail Advisors LLC now owns 199,836 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 192,753 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in ScanSource during the second quarter worth $201,000. Finally, Palouse Capital Management Inc. acquired a new position in ScanSource during the second quarter worth $205,000. Institutional investors own 93.96% of the company’s stock.
NASDAQ SCSC traded down $0.55 during trading on Thursday, reaching $39.45. 84,400 shares of the stock traded hands, compared to its average volume of 102,523. The stock has a market cap of $1.05 billion, a P/E ratio of 12.89 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.92. ScanSource has a fifty-two week low of $31.40 and a fifty-two week high of $45.35.
ScanSource Company Profile
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. The company's Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture (AIDC), point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies.
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