Wall Street brokerages predict that ScanSource, Inc. (NASDAQ:SCSC) will post $0.79 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for ScanSource’s earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.79. ScanSource posted earnings of $0.75 per share in the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The firm is expected to announce its next earnings report after the market closes on Tuesday, February 6th.
On average, analysts expect that ScanSource will report full year earnings of $2.98 per share for the current fiscal year, with EPS estimates ranging from $2.94 to $3.05. For the next year, analysts anticipate that the company will report earnings of $3.23 per share, with EPS estimates ranging from $3.20 to $3.26. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for ScanSource.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The company had revenue of $924.56 million for the quarter, compared to the consensus estimate of $966.20 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. ScanSource’s revenue was down .9% compared to the same quarter last year.
Several research firms recently issued reports on SCSC. Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. TheStreet lowered ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. ValuEngine lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, BidaskClub upgraded ScanSource from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. ScanSource presently has a consensus rating of “Hold” and an average target price of $45.75.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its holdings in ScanSource by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 42,294 shares of the industrial products company’s stock worth $1,704,000 after buying an additional 438 shares during the period. Victory Capital Management Inc. lifted its holdings in ScanSource by 17.6% in 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. Voya Investment Management LLC lifted its holdings in ScanSource by 8.0% in the 2nd quarter. Voya Investment Management LLC now owns 13,394 shares of the industrial products company’s stock worth $540,000 after buying an additional 994 shares during the period. SG Americas Securities LLC lifted its holdings in ScanSource by 26.5% in the 3rd quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock worth $263,000 after buying an additional 1,262 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in ScanSource by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 198,570 shares of the industrial products company’s stock worth $8,002,000 after buying an additional 1,271 shares during the period. Institutional investors and hedge funds own 94.52% of the company’s stock.
ScanSource (NASDAQ SCSC) traded up $0.15 on Tuesday, reaching $34.75. The company had a trading volume of 66,187 shares, compared to its average volume of 78,674. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. ScanSource has a fifty-two week low of $33.55 and a fifty-two week high of $45.35. The company has a market cap of $896.01, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 3.93 and a beta of 1.04.
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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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