$891.35 Million in Sales Expected for ScanSource, Inc. (SCSC) This Quarter
Wall Street analysts forecast that ScanSource, Inc. (NASDAQ:SCSC) will post sales of $891.35 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for ScanSource’s earnings. The highest sales estimate is $892.10 million and the lowest is $890.60 million. ScanSource reported sales of $877.47 million in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The business is expected to announce its next quarterly earnings report on Monday, September 4th.
According to Zacks, analysts expect that ScanSource will report full year sales of $891.35 million for the current financial year, with estimates ranging from $3.54 billion to $3.55 billion. For the next year, analysts forecast that the business will report sales of $3.63 billion per share, with estimates ranging from $3.57 billion to $3.66 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover ScanSource.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.01. ScanSource had a return on equity of 8.41% and a net margin of 1.79%. The business had revenue of $813.50 million during the quarter, compared to the consensus estimate of $833.10 million. During the same period last year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year.
Separately, Zacks Investment Research raised shares of ScanSource from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Saturday, May 6th.
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Shares of ScanSource (NASDAQ SCSC) traded down 0.61% during trading on Wednesday, reaching $40.55. The company had a trading volume of 3,808 shares. The firm has a 50-day moving average of $39.59 and a 200-day moving average of $39.82. The company has a market cap of $1.03 billion, a P/E ratio of 16.46 and a beta of 1.16. ScanSource has a 12-month low of $29.05 and a 12-month high of $44.95.
In other news, CEO Michael L. Baur sold 67,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $39.07, for a total transaction of $2,617,690.00. Following the transaction, the chief executive officer now directly owns 47,890 shares in the company, valued at approximately $1,871,062.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven R. Fischer sold 5,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $40.13, for a total transaction of $200,650.00. Following the transaction, the director now owns 25,867 shares in the company, valued at $1,038,042.71. 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 over the last 90 days. 3.03% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCSC. SG Americas Securities LLC raised its position in 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 in the last quarter. State of Alaska Department of Revenue raised its position 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. Louisiana State Employees Retirement System raised its position in ScanSource by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the industrial products company’s stock valued at $404,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its position in ScanSource by 1.5% in the first quarter. Arizona State Retirement System now owns 13,182 shares of the industrial products company’s stock valued at $517,000 after buying an additional 200 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in ScanSource by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 41,856 shares of the industrial products company’s stock valued at $1,643,000 after buying an additional 210 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.
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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