Equities research analysts expect ScanSource, Inc. (NASDAQ:SCSC) to report sales of $984.60 million for the current quarter, Zacks reports. Two analysts have issued estimates for ScanSource’s earnings, with estimates ranging from $980.00 million to $989.20 million. ScanSource posted sales of $924.56 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The company is scheduled to issue its next earnings report on Monday, November 5th.
On average, analysts expect that ScanSource will report full year sales of $4.03 billion for the current fiscal year, with estimates ranging from $3.98 billion to $4.08 billion. For the next year, analysts forecast that the company will post sales of $4.15 billion, with estimates ranging from $4.12 billion to $4.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow ScanSource.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Tuesday, August 28th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. ScanSource had a return on equity of 9.23% and a net margin of 0.86%. The business had revenue of $993.90 million for the quarter, compared to the consensus estimate of $974.20 million. During the same quarter in the prior year, the company earned $0.68 EPS. The business’s revenue was up 8.4% compared to the same quarter last year.
A number of equities analysts have recently issued reports on SCSC shares. BidaskClub raised ScanSource from a “hold” rating to a “buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Saturday, August 18th. Raymond James increased their price target on ScanSource from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Finally, ValuEngine downgraded ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $46.00.
In related news, CFO Gerald Lyons sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $44.00, for a total transaction of $26,400.00. Following the sale, the chief financial officer now owns 12,937 shares of the company’s stock, valued at $569,228. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Baur sold 13,747 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $604,868.00. Following the sale, the chief executive officer now directly owns 49,446 shares in the company, valued at approximately $2,175,624. The disclosure for this sale can be found here. 2.35% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in ScanSource during the first quarter valued at about $127,000. Rehmann Capital Advisory Group bought a new stake in ScanSource during the second quarter valued at about $161,000. Summit Trail Advisors LLC boosted its position in ScanSource by 2,721.3% during 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. ClariVest Asset Management LLC bought a new stake in ScanSource during the second quarter valued at about $201,000. Finally, Palouse Capital Management Inc. bought a new stake in ScanSource during the second quarter valued at about $205,000. 93.97% of the stock is currently owned by institutional investors.
Shares of SCSC traded up $0.18 during midday trading on Wednesday, reaching $36.12. 98,173 shares of the stock were exchanged, compared to its average volume of 101,455. ScanSource has a 52 week low of $31.40 and a 52 week high of $45.35. The company has a current ratio of 1.92, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 11.61 and a beta of 0.83.
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).
Recommended Story: Are analyst ratings accurate?
Get a free copy of the Zacks research report on ScanSource (SCSC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ScanSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource and related companies with MarketBeat.com's FREE daily email newsletter.