$0.68 Earnings Per Share Expected for ScanSource, Inc. (SCSC) This Quarter
Equities analysts expect ScanSource, Inc. (NASDAQ:SCSC) to report earnings of $0.68 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for ScanSource’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.67. ScanSource reported earnings of $0.51 per share during the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The firm is scheduled to report its next quarterly earnings results on Monday, September 4th.
According to Zacks, analysts expect that ScanSource will report full-year earnings of $2.76 per share for the current fiscal year, with EPS estimates ranging from $2.75 to $2.78. For the next year, analysts expect that the firm will post earnings of $3.02 per share, with EPS estimates ranging from $2.90 to $3.20. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for ScanSource.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $813.50 million during the quarter, compared to the consensus estimate of $833.10 million. ScanSource had a return on equity of 8.41% and a net margin of 1.79%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share.
Separately, Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Saturday, May 6th.
In related news, Director Steven R. Fischer sold 5,000 shares of ScanSource stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $40.13, for a total transaction of $200,650.00. Following the sale, the director now owns 25,867 shares of the company’s stock, valued at approximately $1,038,042.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael L. Baur sold 67,000 shares of ScanSource stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $39.07, for a total value of $2,617,690.00. Following the sale, the chief executive officer now directly owns 47,890 shares in the company, valued at approximately $1,871,062.30. The disclosure for this sale can be found here. Insiders have sold a total of 77,000 shares of company stock worth $3,019,290 in the last three months. 3.03% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of SCSC. State of Alaska Department of Revenue increased its stake in shares of ScanSource by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after buying an additional 20 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of ScanSource by 33.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,856 shares of the industrial products company’s stock valued at $156,000 after buying an additional 973 shares during the period. SG Americas Securities LLC increased its stake in shares of ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $167,000 after buying an additional 14 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of ScanSource during the fourth quarter valued at about $174,000. Finally, Mason Street Advisors LLC increased its stake in ScanSource by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock worth $232,000 after buying an additional 409 shares during the last quarter. 94.74% of the stock is currently owned by institutional investors.
ScanSource (NASDAQ SCSC) traded up 2.69% on Wednesday, hitting $40.10. 50,583 shares of the company traded hands. The firm’s 50 day moving average price is $38.91 and its 200 day moving average price is $39.87. ScanSource has a 1-year low of $29.05 and a 1-year high of $44.95. The firm has a market capitalization of $1.02 billion, a PE ratio of 16.27 and a beta of 1.16.
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ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
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