Zacks: Brokerages Anticipate ScanSource, Inc. (SCSC) Will Post Earnings of $0.77 Per Share

Analysts expect ScanSource, Inc. (NASDAQ:SCSC) to announce earnings per share (EPS) of $0.77 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for ScanSource’s earnings. The lowest EPS estimate is $0.76 and the highest is $0.78. ScanSource reported earnings of $0.68 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, September 4th.

According to Zacks, analysts expect that ScanSource will report full-year earnings of $3.11 per share for the current year, with EPS estimates ranging from $3.10 to $3.12. For the next fiscal year, analysts forecast that the company will report earnings of $3.55 per share, with EPS estimates ranging from $3.47 to $3.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover ScanSource.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, May 8th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). ScanSource had a return on equity of 9.01% and a net margin of 1.11%. The firm had revenue of $895.64 million during the quarter, compared to analysts’ expectations of $878.70 million. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 10.1% compared to the same quarter last year.

SCSC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of ScanSource from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, May 11th. BidaskClub raised shares of ScanSource from a “sell” rating to a “hold” rating in a report on Friday, May 18th. ValuEngine downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Northcoast Research raised shares of ScanSource from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday, March 26th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ScanSource currently has an average rating of “Hold” and an average target price of $42.00.

Shares of ScanSource traded up $0.25, reaching $40.60, on Friday, Marketbeat.com reports. The stock had a trading volume of 57,200 shares, compared to its average volume of 108,640. ScanSource has a 1 year low of $31.40 and a 1 year high of $45.35. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 4.36 and a beta of 1.03. The company has a current ratio of 2.09, a quick ratio of 1.20 and a debt-to-equity ratio of 0.32.

In related news, CEO Michael L. Baur sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $40.00, for a total value of $199,640.00. Following the sale, the chief executive officer now directly owns 40,691 shares of the company’s stock, valued at $1,627,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.35% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in ScanSource in the first quarter valued at approximately $127,000. KBC Group NV purchased a new stake in ScanSource in the first quarter valued at approximately $184,000. Jefferies Group LLC raised its stake in 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. Victory Capital Management Inc. raised its stake in 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. Finally, Teacher Retirement System of Texas purchased a new stake in ScanSource in the fourth quarter valued at approximately $314,000. 96.57% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Company Profile

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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Earnings History and Estimates for ScanSource (NASDAQ:SCSC)

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