Brokerages forecast that ScanSource, Inc. (NASDAQ:SCSC) will announce earnings per share (EPS) of $0.84 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for ScanSource’s earnings, with the lowest EPS estimate coming in at $0.83 and the highest estimate coming in at $0.84. ScanSource posted earnings of $0.77 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 27th.
According to Zacks, analysts expect that ScanSource will report full year earnings of $3.48 per share for the current year, with EPS estimates ranging from $3.46 to $3.49. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.70 per share, with EPS estimates ranging from $3.60 to $3.80. Zacks’ earnings per share averages are an average based on a survey of research firms that follow ScanSource.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01). ScanSource had a return on equity of 9.90% and a net margin of 1.44%. The company had revenue of $893.40 million for the quarter, compared to analyst estimates of $931.63 million. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue was down .2% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the stock. TheStreet downgraded shares of Trinseo from a “b-” rating to a “c+” rating in a research report on Friday, May 17th. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine downgraded shares of Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. ScanSource has a consensus rating of “Hold” and a consensus target price of $44.50.
In other news, Director Michael J. Grainger acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $30.69 per share, with a total value of $122,760.00. Following the completion of the purchase, the director now directly owns 18,100 shares of the company’s stock, valued at approximately $555,489. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.56% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of ScanSource by 3.7% during the fourth quarter. BlackRock Inc. now owns 4,513,605 shares of the industrial products company’s stock worth $155,177,000 after buying an additional 162,714 shares during the last quarter. Northern Trust Corp grew its stake in shares of ScanSource by 0.9% in the fourth quarter. Northern Trust Corp now owns 745,845 shares of the industrial products company’s stock worth $25,642,000 after purchasing an additional 6,308 shares during the last quarter. Norges Bank bought a new stake in shares of ScanSource in the fourth quarter worth $18,911,000. Geode Capital Management LLC grew its stake in shares of ScanSource by 11.7% in the fourth quarter. Geode Capital Management LLC now owns 362,217 shares of the industrial products company’s stock worth $12,453,000 after purchasing an additional 37,833 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of ScanSource by 0.5% in the fourth quarter. Nordea Investment Management AB now owns 258,754 shares of the industrial products company’s stock worth $8,895,000 after purchasing an additional 1,265 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ SCSC traded up $0.12 during midday trading on Thursday, reaching $31.68. The company’s stock had a trading volume of 151,570 shares, compared to its average volume of 118,074. The company has a current ratio of 2.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.38. ScanSource has a fifty-two week low of $28.55 and a fifty-two week high of $44.30. The stock’s 50 day moving average price is $31.29. The firm has a market cap of $814.24 million, a P/E ratio of 10.19 and a beta of 0.96.
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).
Featured Story: What is a Derivative?
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.