Wall Street analysts predict that ScanSource, Inc. (NASDAQ:SCSC) will post $0.68 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for ScanSource’s earnings, with estimates ranging from $0.67 to $0.70. ScanSource posted earnings per share of $0.51 during the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The business is expected to report its next earnings results on Monday, September 4th.
On average, analysts expect that ScanSource will report full year earnings of $2.76 per share for the current financial year, with EPS estimates ranging from $2.75 to $2.78. For the next financial year, analysts expect that the company will report earnings of $3.02 per share, with EPS estimates ranging from $2.90 to $3.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover ScanSource.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.01. ScanSource had a return on equity of 8.41% and a net margin of 1.79%. The business had revenue of $813.50 million for the quarter, compared to analysts’ expectations of $833.10 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. ScanSource’s revenue for the quarter was up 1.9% compared to the same quarter last year.
Several analysts recently weighed in on the company. BidaskClub downgraded ScanSource from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. ScanSource has an average rating of “Hold” and an average price target of $45.17.
In related news, CEO Michael L. Baur sold 67,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $39.07, for a total transaction of $2,617,690.00. Following the completion of the sale, the chief executive officer now owns 47,890 shares in the company, valued at approximately $1,871,062.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven R. Fischer sold 5,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $40.13, for a total value of $200,650.00. Following the sale, the director now owns 25,867 shares of the company’s stock, valued at approximately $1,038,042.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,000 shares of company stock valued at $3,019,290. 3.03% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SCSC. Texas Permanent School Fund increased its stake in shares of ScanSource by 1.1% in the second quarter. Texas Permanent School Fund now owns 18,482 shares of the industrial products company’s stock valued at $745,000 after buying an additional 198 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of ScanSource by 5.3% in the second quarter. Bessemer Group Inc. now owns 49,400 shares of the industrial products company’s stock worth $1,991,000 after buying an additional 2,500 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of ScanSource by 4.0% in the second quarter. Great West Life Assurance Co. Can now owns 37,565 shares of the industrial products company’s stock worth $1,510,000 after buying an additional 1,430 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in shares of ScanSource during the second quarter worth approximately $321,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of ScanSource by 142.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,890 shares of the industrial products company’s stock worth $560,000 after buying an additional 8,160 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.
ScanSource (NASDAQ SCSC) traded down 1.00% during midday trading on Monday, reaching $39.55. The company’s stock had a trading volume of 35,608 shares. The firm has a market capitalization of $1.00 billion, a PE ratio of 16.05 and a beta of 1.16. The stock has a 50 day moving average of $39.71 and a 200 day moving average of $39.82. ScanSource has a 52 week low of $29.05 and a 52 week high of $44.95.
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.
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