Zacks: Brokerages Anticipate ScanSource, Inc. (SCSC) Will Post Earnings of $0.79 Per Share

Analysts expect ScanSource, Inc. (NASDAQ:SCSC) to report earnings of $0.79 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ScanSource’s earnings, with estimates ranging from $0.79 to $0.80. ScanSource posted earnings per share of $0.75 during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The company is expected to announce its next earnings report on Tuesday, February 6th.

On average, analysts expect that ScanSource will report full year earnings of $2.98 per share for the current year, with EPS estimates ranging from $2.94 to $3.05. For the next financial year, analysts expect that the firm will report earnings of $3.23 per share, with EPS estimates ranging from $3.20 to $3.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover ScanSource.

ScanSource (NASDAQ:SCSC) last released its earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm had revenue of $924.56 million during the quarter, compared to analysts’ expectations of $966.20 million. ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share.

Several research analysts have recently weighed in on the stock. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub downgraded shares of ScanSource from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. ValuEngine downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, TheStreet downgraded shares of ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.75.

ScanSource (SCSC) traded down $0.10 during trading on Friday, hitting $35.90. 77,278 shares of the stock traded hands, compared to its average volume of 87,225. The stock has a market capitalization of $915.13, a P/E ratio of 12.64, a P/E/G ratio of 4.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.94. ScanSource has a 1-year low of $34.45 and a 1-year high of $45.35.

In related news, Director John Patrick Reilly sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $40.70, for a total transaction of $203,500.00. Following the completion of the sale, the director now directly owns 16,900 shares in the company, valued at $687,830. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 44,565 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $44.16, for a total transaction of $1,967,990.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,397 shares of company stock valued at $3,959,574. 2.35% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in shares of ScanSource by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 446 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of ScanSource during the third quarter worth approximately $202,000. SG Americas Securities LLC boosted its holdings in shares of ScanSource by 12.0% during the second quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 509 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of ScanSource by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 2,206 shares during the period. Finally, Palouse Capital Management Inc. acquired a new stake in shares of ScanSource during the third quarter worth approximately $226,000. Institutional investors and hedge funds own 94.42% of the company’s stock.

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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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Earnings History and Estimates for ScanSource (NASDAQ:SCSC)

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