ScanSource, Inc. (NASDAQ:SCSC) – Equities researchers at Northcoast Research upped their Q1 2020 earnings per share (EPS) estimates for shares of ScanSource in a research note issued to investors on Tuesday, November 5th. Northcoast Research analyst K. Housum now forecasts that the industrial products company will post earnings of $0.75 per share for the quarter, up from their previous forecast of $0.74. Northcoast Research also issued estimates for ScanSource’s Q2 2020 earnings at $0.93 EPS and FY2020 earnings at $3.11 EPS.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, August 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.12). The company had revenue of $960.80 million during the quarter, compared to analysts’ expectations of $999.63 million. ScanSource had a net margin of 1.49% and a return on equity of 9.60%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share.
Several other analysts have also issued reports on SCSC. BidaskClub upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a report on Tuesday. ValuEngine upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Zacks Investment Research upgraded shares of ScanSource from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Friday. Finally, Raymond James reduced their price objective on shares of ScanSource from $44.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.00.
SCSC traded up $0.14 on Friday, hitting $33.88. The company had a trading volume of 139,000 shares, compared to its average volume of 120,985. The firm has a market cap of $848.86 million, a P/E ratio of 10.08 and a beta of 0.95. ScanSource has a 1 year low of $26.84 and a 1 year high of $42.77. The company’s fifty day moving average price is $30.81 and its 200 day moving average price is $31.69. The company has a current ratio of 2.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.
Large investors have recently modified their holdings of the business. Advisor Group Inc. increased its stake in ScanSource by 74.9% during the second quarter. Advisor Group Inc. now owns 782 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 335 shares during the period. Tower Research Capital LLC TRC increased its stake in ScanSource by 1,067.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,214 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,110 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ScanSource by 51.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 657 shares during the period. Meeder Asset Management Inc. purchased a new stake in ScanSource during the third quarter worth about $62,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in ScanSource during the third quarter worth about $241,000. Institutional investors own 96.10% of the company’s stock.
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).
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