Analysts Anticipate ScanSource, Inc. (SCSC) Will Announce Quarterly Sales of $969.23 Million

Equities analysts expect that ScanSource, Inc. (NASDAQ:SCSC) will announce $969.23 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for ScanSource’s earnings. The highest sales estimate is $974.10 million and the lowest is $963.20 million. ScanSource reported sales of $904.79 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The company is expected to announce its next quarterly earnings results on Tuesday, February 6th.

On average, analysts expect that ScanSource will report full-year sales of $969.23 million for the current financial year, with estimates ranging from $3.69 billion to $3.76 billion. For the next year, analysts anticipate that the business will post sales of $3.85 billion per share, with estimates ranging from $3.81 billion to $3.89 billion. Zacks’ sales averages are an average based on a survey of analysts that follow ScanSource.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.02). The business had revenue of $924.56 million for the quarter, compared to analyst estimates of $966.20 million. ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share.

SCSC has been the topic of several recent analyst reports. ValuEngine downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, October 2nd. BidaskClub upgraded shares of ScanSource from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 20th. Zacks Investment Research cut shares of ScanSource from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, TheStreet cut shares of ScanSource from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.75.

Shares of ScanSource (NASDAQ:SCSC) traded down $0.05 during trading hours on Monday, reaching $35.15. The company had a trading volume of 79,600 shares, compared to its average volume of 87,600. ScanSource has a 1 year low of $33.55 and a 1 year high of $45.35. The company has a market capitalization of $896.01, a PE ratio of 15.28, a price-to-earnings-growth ratio of 3.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.94.

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in ScanSource by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 446 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in ScanSource during the third quarter worth about $202,000. SG Americas Securities LLC grew its stake in ScanSource by 12.0% during the second quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock worth $192,000 after buying an additional 509 shares during the last quarter. Palouse Capital Management Inc. bought a new stake in ScanSource during the third quarter worth about $226,000. Finally, Piedmont Investment Advisors LLC bought a new stake in ScanSource during the second quarter worth about $221,000. 94.35% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This report was posted by BBNS and is the property of of BBNS. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://baseballnewssource.com/markets/analysts-anticipate-scansource-inc-scsc-will-announce-quarterly-sales-of-969-23-million/1817785.html.

ScanSource Company Profile

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

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.

 


Latest News

Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets


Leave a Reply

 
© 2006-2018 BBNS.