$0.68 EPS Expected for ScanSource, Inc. (SCSC) This Quarter
Wall Street brokerages expect ScanSource, Inc. (NASDAQ:SCSC) to report earnings per share (EPS) of $0.68 for the current quarter, according to Zacks. Two analysts have made estimates for ScanSource’s earnings, with estimates ranging from $0.67 to $0.70. ScanSource reported earnings of $0.51 per share during the same quarter last year, which would suggest a positive year over year growth rate of 33.3%. The firm is scheduled to announce its next earnings results on Monday, September 4th.
On average, 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 financial year, analysts expect that the firm will report earnings of $3.02 per share, with EPS estimates ranging from $2.90 to $3.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow ScanSource.
ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, May 9th. The industrial products company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $813.50 million for the quarter, compared to the consensus estimate of $833.10 million. ScanSource had a net margin of 1.79% and a return on equity of 8.41%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share.
Separately, Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.
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ScanSource (NASDAQ:SCSC) traded down 0.86% during mid-day trading on Monday, hitting $40.45. The stock had a trading volume of 46,700 shares. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 16.42 and a beta of 1.16. The firm’s 50-day moving average is $39.53 and its 200 day moving average is $39.83. ScanSource has a 12 month low of $29.05 and a 12 month high of $44.95.
In related news, Director Steven R. Fischer sold 5,000 shares of ScanSource stock in a transaction 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 completion of the sale, the director now owns 25,867 shares of the company’s stock, valued at $1,038,042.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael L. Baur sold 67,000 shares of ScanSource stock in a transaction 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 of the company’s stock, valued at approximately $1,871,062.30. The disclosure for this sale can be found here. Insiders have sold 77,000 shares of company stock valued at $3,019,290 in the last three months. 3.03% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in ScanSource by 21.3% in the first quarter. Wells Fargo & Company MN now owns 30,870 shares of the industrial products company’s stock valued at $1,212,000 after buying an additional 5,425 shares in the last quarter. First Midwest Bank Trust Division raised its stake in ScanSource by 3.0% in the first quarter. First Midwest Bank Trust Division now owns 9,853 shares of the industrial products company’s stock valued at $387,000 after buying an additional 285 shares in the last quarter. Russell Investments Group Ltd. raised its stake in ScanSource by 60.3% in the first quarter. Russell Investments Group Ltd. now owns 62,440 shares of the industrial products company’s stock valued at $2,451,000 after buying an additional 23,499 shares in the last quarter. Profit Investment Management LLC raised its stake in ScanSource by 36.4% in the first quarter. Profit Investment Management LLC now owns 45,768 shares of the industrial products company’s stock valued at $1,796,000 after buying an additional 12,220 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in 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 in the last quarter. 94.44% of the stock is owned by institutional investors.
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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