Brokerages Anticipate ScanSource, Inc. (NASDAQ:SCSC) Will Announce Earnings of $0.47 Per Share


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Analysts predict that ScanSource, Inc. (NASDAQ:SCSC) will announce earnings of $0.47 per share for the current quarter, according to Zacks. Two analysts have made estimates for ScanSource’s earnings, with estimates ranging from $0.39 to $0.55. ScanSource reported earnings of $0.37 per share during the same quarter last year, which would indicate a positive year over year growth rate of 27%. The business is scheduled to report its next earnings results after the market closes on Monday, May 10th.

On average, analysts expect that ScanSource will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $2.21. For the next financial year, analysts expect that the business will post earnings of $2.56 per share, with EPS estimates ranging from $2.20 to $2.91. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover ScanSource.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, February 2nd. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. ScanSource had a positive return on equity of 5.58% and a negative net margin of 6.63%. The company had revenue of $810.90 million for the quarter, compared to analyst estimates of $770.65 million. During the same quarter last year, the company posted $0.77 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year.

SCSC has been the topic of a number of research reports. Raymond James raised their price target on ScanSource from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, February 3rd. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a report on Wednesday, April 7th.

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC lifted its position in shares of ScanSource by 64.8% during the 4th quarter. Lazard Asset Management LLC now owns 2,376 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 934 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of ScanSource during the 4th quarter valued at approximately $133,000. QS Investors LLC acquired a new stake in shares of ScanSource during the 4th quarter valued at approximately $204,000. Royce & Associates LP acquired a new stake in shares of ScanSource during the 4th quarter valued at approximately $219,000. Finally, Susquehanna International Group LLP acquired a new position in shares of ScanSource during the 4th quarter worth approximately $302,000. Institutional investors own 93.38% of the company’s stock.

Shares of NASDAQ SCSC traded down $0.55 during midday trading on Thursday, reaching $29.28. 55,525 shares of the company were exchanged, compared to its average volume of 95,837. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.21. ScanSource has a 1 year low of $18.25 and a 1 year high of $34.10. The stock has a fifty day simple moving average of $30.84 and a 200 day simple moving average of $26.86. The stock has a market cap of $745.23 million, a P/E ratio of -3.50 and a beta of 1.51.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. It operates in two segments, Worldwide Barcode, Networking & Security; and Worldwide Communications & Services. The Worldwide Barcode, Networking & Security segment offers a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.

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