ScanSource Inc. (SCSC) Issues Q2 Earnings Guidance
ScanSource Inc. (NASDAQ:SCSC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.62-0.64 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.68, American Banking & Market News reports. The company issued revenue guidance of $740-760 mlln, compared to the consensus revenue estimate of $777.72 million.
Shares of ScanSource Inc. (NASDAQ:SCSC) traded down 0.17% on Thursday, hitting $36.17. The stock had a trading volume of 136,581 shares. ScanSource Inc. has a 52-week low of $25.83 and a 52-week high of $36.74. The stock has a 50-day moving average of $34.15 and a 200-day moving average of $31.59. The company has a market cap of $1.015 billion and a price-to-earnings ratio of 29.22.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.11. The company had revenue of $731.90 million for the quarter, compared to the consensus estimate of $730.10 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis.
On a related note, analysts at Zacks upgraded shares of ScanSource from an underperform rating to a neutral rating in a research note to investors on Wednesday. They now have a $37.10 price target on the stock.
In other ScanSource news, CEO Michael L. Baur unloaded 20,000 shares of ScanSource stock on the open market in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $34.89, for a total transaction of $697,800.00. The sale was disclosed in a filing with the SEC, which is available at this link.
ScanSource, Inc is a wholesale distributor of specialty technology products, providing distribution sales to resellers in the specialty technology markets.
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