ScanSource (NASDAQ:SCSC) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.92-0.98 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.97. The company issued revenue guidance of $1.01-1.07 billion, compared to the consensus revenue estimate of $1.07 billion.ScanSource also updated its Q1 2019 guidance to $0.92-0.98 EPS.
Several brokerages have recently weighed in on SCSC. Raymond James increased their price objective on shares of ScanSource from $44.00 to $47.00 and gave the stock a buy rating in a report on Wednesday, August 29th. BidaskClub lowered shares of ScanSource from a buy rating to a hold rating in a report on Tuesday, August 28th. Zacks Investment Research upgraded shares of ScanSource from a hold rating to a buy rating and set a $48.00 price objective on the stock in a report on Saturday, August 18th. Finally, ValuEngine lowered shares of ScanSource from a hold rating to a sell rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $46.00.
Shares of SCSC stock opened at $41.63 on Wednesday. The stock has a market cap of $1.05 billion, a PE ratio of 13.39 and a beta of 0.72. ScanSource has a 1-year low of $31.40 and a 1-year high of $44.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.92.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.02. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $976.97 million. ScanSource had a net margin of 0.86% and a return on equity of 9.23%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. Analysts forecast that ScanSource will post 3.56 earnings per share for the current fiscal year.
In other news, CEO Michael L. Baur sold 13,747 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $604,868.00. Following the transaction, the chief executive officer now directly owns 49,446 shares in the company, valued at approximately $2,175,624. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gerald Lyons sold 600 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $44.00, for a total transaction of $26,400.00. Following the transaction, the chief financial officer now owns 12,937 shares in the company, valued at $569,228. The disclosure for this sale can be found here. Corporate insiders own 2.56% of the company’s stock.
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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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