Zacks: Brokerages Anticipate ScanSource, Inc. (NASDAQ:SCSC) to Post $0.84 EPS

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Analysts expect ScanSource, Inc. (NASDAQ:SCSC) to report $0.84 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for ScanSource’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.83. ScanSource reported earnings per share of $0.77 in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 27th.

On average, analysts expect that ScanSource will report full year earnings of $3.48 per share for the current financial year, with EPS estimates ranging from $3.46 to $3.49. For the next financial year, analysts forecast that the company will report earnings of $3.70 per share, with EPS estimates ranging from $3.60 to $3.80. Zacks’ EPS calculations are an average based on a survey of research firms that follow ScanSource.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, May 9th. The industrial products company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01). ScanSource had a return on equity of 9.90% and a net margin of 1.44%. The firm had revenue of $893.40 million during the quarter, compared to analysts’ expectations of $931.63 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. ScanSource’s quarterly revenue was down .2% compared to the same quarter last year.

Several equities research analysts have weighed in on the company. ValuEngine cut ScanSource from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Zacks Investment Research cut ScanSource from a “hold” rating to a “sell” rating in a report on Friday, May 31st. TheStreet cut ScanSource from a “b-” rating to a “c+” rating in a report on Friday, May 17th. Finally, BidaskClub upgraded ScanSource from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.50.

Shares of SCSC stock traded up $0.72 during mid-day trading on Tuesday, hitting $32.27. The stock had a trading volume of 3,967 shares, compared to its average volume of 109,446. ScanSource has a 12-month low of $28.55 and a 12-month high of $44.30. The firm has a market capitalization of $810.84 million, a price-to-earnings ratio of 10.40 and a beta of 0.92. The stock has a 50-day moving average of $31.32. The company has a quick ratio of 0.99, a current ratio of 2.06 and a debt-to-equity ratio of 0.38.

In other news, Director Michael J. Grainger bought 4,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $30.69 per share, for a total transaction of $122,760.00. Following the acquisition, the director now owns 18,100 shares of the company’s stock, valued at $555,489. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.56% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mason Street Advisors LLC raised its position in shares of ScanSource by 3.8% in the 1st quarter. Mason Street Advisors LLC now owns 8,254 shares of the industrial products company’s stock worth $296,000 after acquiring an additional 301 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of ScanSource by 32.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 313 shares in the last quarter. Piedmont Investment Advisors Inc. raised its position in shares of ScanSource by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,447 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 361 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of ScanSource by 1.0% in the 4th quarter. Victory Capital Management Inc. now owns 39,031 shares of the industrial products company’s stock worth $1,342,000 after acquiring an additional 404 shares in the last quarter. Finally, Strs Ohio raised its position in shares of ScanSource by 2.4% in the 1st quarter. Strs Ohio now owns 21,200 shares of the industrial products company’s stock worth $759,000 after acquiring an additional 500 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

About ScanSource

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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