$0.78 Earnings Per Share Expected for ScanSource, Inc. (SCSC) This Quarter
Equities analysts predict that ScanSource, Inc. (NASDAQ:SCSC) will post earnings of $0.78 per share for the current quarter, Zacks reports. Two analysts have issued estimates for ScanSource’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.79. ScanSource reported earnings of $0.68 per share during the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is scheduled to issue its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that ScanSource will report full year earnings of $3.02 per share for the current year, with EPS estimates ranging from $2.95 to $3.11. For the next year, analysts anticipate that the company will post earnings of $3.27 per share, with EPS estimates ranging from $3.20 to $3.33. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for ScanSource.
ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $917.30 million for the quarter, compared to analysts’ expectations of $894.17 million. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. ScanSource’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share.
A number of research firms have commented on SCSC. Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. ValuEngine upgraded ScanSource from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.75.
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Shares of ScanSource (NASDAQ SCSC) traded up 0.11% during mid-day trading on Friday, reaching $44.30. The company’s stock had a trading volume of 69,146 shares. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 16.35 and a beta of 1.16. The firm has a 50 day moving average price of $39.70 and a 200 day moving average price of $39.25. ScanSource has a 52-week low of $29.05 and a 52-week high of $44.95.
In other news, Director John Patrick Reilly sold 5,000 shares of ScanSource stock in a transaction on Monday, September 18th. The stock was sold at an average price of $40.70, for a total value of $203,500.00. Following the transaction, the director now owns 16,900 shares in the company, valued at approximately $687,830. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 9,076 shares of company stock worth $370,590. Corporate insiders own 3.03% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SCSC. Victory Capital Management Inc. lifted its holdings in ScanSource by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after buying an additional 446 shares during the period. SG Americas Securities LLC lifted its holdings in ScanSource by 0.3% during the 1st quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $167,000 after buying an additional 14 shares during the period. State of Alaska Department of Revenue lifted its holdings in ScanSource by 79.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock worth $201,000 after buying an additional 2,206 shares during the period. CHICAGO TRUST Co NA acquired a new position in ScanSource during the 2nd quarter worth about $218,000. Finally, Piedmont Investment Advisors LLC acquired a new position in ScanSource during the 2nd quarter worth about $221,000. 93.98% of the stock is currently owned by hedge funds and other 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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