Zacks: Analysts Expect ScanSource, Inc. (NASDAQ:SCSC) Will Post Earnings of $0.82 Per Share

Analysts expect ScanSource, Inc. (NASDAQ:SCSC) to announce $0.82 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for ScanSource’s earnings, with estimates ranging from $0.81 to $0.82. ScanSource posted earnings of $0.99 per share in the same quarter last year, which suggests a negative year over year growth rate of 17.2%. The company is scheduled to report its next earnings report on Tuesday, February 4th.

On average, analysts expect that ScanSource will report full year earnings of $3.05 per share for the current year, with EPS estimates ranging from $3.02 to $3.07. For the next fiscal year, analysts anticipate that the company will report earnings of $3.27 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover ScanSource.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Tuesday, November 12th. The industrial products company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $957.93 million. ScanSource had a return on equity of 9.03% and a net margin of 1.40%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Raymond James dropped their price target on shares of ScanSource from $44.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, August 21st. TheStreet upgraded shares of ScanSource from a “c+” rating to a “b-” rating in a research note on Thursday, November 21st. ValuEngine upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, BidaskClub upgraded shares of ScanSource from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.00.

In other news, CFO Gerald Lyons sold 1,000 shares of ScanSource stock in a transaction on Friday, November 15th. The shares were sold at an average price of $35.05, for a total transaction of $35,050.00. Following the completion of the sale, the chief financial officer now directly owns 16,868 shares of the company’s stock, valued at approximately $591,223.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.56% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its position in ScanSource by 74.9% in the second quarter. Advisor Group Inc. now owns 782 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 335 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in ScanSource by 6.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 8,225 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 466 shares during the last quarter. California State Teachers Retirement System lifted its position in ScanSource by 1.2% in the third quarter. California State Teachers Retirement System now owns 40,254 shares of the industrial products company’s stock valued at $1,230,000 after acquiring an additional 480 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ScanSource by 51.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 657 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its position in ScanSource by 8.5% in the third quarter. State of Tennessee Treasury Department now owns 11,233 shares of the industrial products company’s stock valued at $343,000 after acquiring an additional 883 shares during the last quarter. 94.96% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SCSC traded down $0.27 during trading on Monday, hitting $35.15. The company’s stock had a trading volume of 140,069 shares, compared to its average volume of 123,298. The business has a 50 day moving average price of $32.92 and a two-hundred day moving average price of $31.48. The company has a market capitalization of $894.93 million, a PE ratio of 10.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.04 and a current ratio of 1.92. ScanSource has a fifty-two week low of $26.84 and a fifty-two week high of $40.55.

ScanSource Company Profile

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).

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Earnings History and Estimates for ScanSource (NASDAQ:SCSC)

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