ScanSource Inc. (SCSC) Updates Q1 Earnings Guidance
ScanSource Inc. (NASDAQ:SCSC) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.59-0.61 for the period, compared to the Thomson Reuters consensus estimate of $0.66, Analyst Ratings Network reports. The company issued revenue guidance of $750-770 million, compared to the consensus revenue estimate of $758.96 million.
ScanSource Inc. (NASDAQ:SCSC) traded up 2.53% on Thursday, hitting $39.26. 91,334 shares of the company’s stock traded hands. ScanSource Inc. has a 52 week low of $30.60 and a 52 week high of $43.65. The stock has a 50-day moving average of $37.10 and a 200-day moving average of $38.02. The company has a market cap of $1.120 billion and a P/E ratio of 26.28.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.35. The company had revenue of $758.10 million for the quarter, compared to the consensus estimate of $740.03 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that ScanSource Inc. will post $2.51 EPS for the current fiscal year.
On a related note, analysts at TheStreet upgraded shares of ScanSource from a hold rating to a buy rating in a research note on Tuesday, July 8th.
ScanSource, Inc is a wholesale distributor of specialty technology products, providing distribution sales to resellers in the specialty technology markets.
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