Analysts expect ScanSource, Inc. (NASDAQ:SCSC) to announce $0.77 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for ScanSource’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.78. ScanSource posted earnings of $0.68 per share during the same quarter last year, which would suggest a positive year over year growth rate of 13.2%. The business is expected to issue its next earnings report on Tuesday, September 4th.
On average, analysts expect that ScanSource will report full year earnings of $3.11 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.11. For the next fiscal year, analysts anticipate that the business will post earnings of $3.59 per share, with EPS estimates ranging from $3.55 to $3.62. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for ScanSource.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, May 8th. The industrial products company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.02). ScanSource had a return on equity of 9.01% and a net margin of 1.11%. The company had revenue of $895.64 million for the quarter, compared to analyst estimates of $878.70 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. ScanSource’s revenue was up 10.1% compared to the same quarter last year.
SCSC has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of ScanSource from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, May 11th. BidaskClub upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Wednesday, June 20th. Northcoast Research upgraded shares of ScanSource from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Monday, March 26th. Finally, ValuEngine upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $42.00.
In related news, CEO Michael L. Baur sold 4,991 shares of the business’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $40.00, for a total transaction of $199,640.00. Following the sale, the chief executive officer now owns 40,691 shares of the company’s stock, valued at $1,627,640. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.35% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SCSC. SG Americas Securities LLC purchased a new stake in ScanSource during the first quarter worth about $127,000. KBC Group NV purchased a new stake in shares of ScanSource in the first quarter valued at about $184,000. Summit Trail Advisors LLC lifted its holdings in shares of ScanSource by 2,721.3% in the first quarter. Summit Trail Advisors LLC now owns 199,836 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 192,753 shares in the last quarter. Jefferies Group LLC lifted its holdings in shares of ScanSource by 50.4% in the fourth quarter. Jefferies Group LLC now owns 7,865 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 2,634 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of ScanSource by 31.8% in the first quarter. Victory Capital Management Inc. now owns 8,347 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 2,012 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:SCSC traded down $0.45 during midday trading on Tuesday, hitting $40.30. 69,600 shares of the company were exchanged, compared to its average volume of 108,105. ScanSource has a fifty-two week low of $31.40 and a fifty-two week high of $45.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.09 and a quick ratio of 1.20. The firm has a market capitalization of $1.03 billion, a P/E ratio of 14.83, a P/E/G ratio of 4.32 and a beta of 1.03.
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. The company's Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture (AIDC), point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies.
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