Equities analysts predict that ScanSource, Inc. (NASDAQ:SCSC) will report earnings of $0.75 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for ScanSource’s earnings, with estimates ranging from $0.74 to $0.75. ScanSource reported earnings per share of $0.42 during the same quarter last year, which would suggest a positive year-over-year growth rate of 78.6%. The company is scheduled to issue its next earnings report on Monday, November 8th.
According to Zacks, analysts expect that ScanSource will report full year earnings of $3.14 per share for the current fiscal year, with EPS estimates ranging from $3.04 to $3.23. For the next fiscal year, analysts forecast that the business will post earnings of $3.69 per share. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that follow ScanSource.
ScanSource (NASDAQ:SCSC) last announced its earnings results on Monday, August 23rd. The industrial products company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.39. The firm had revenue of $852.69 million for the quarter, compared to analysts’ expectations of $759.75 million. ScanSource had a net margin of 0.34% and a return on equity of 10.07%. The company’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS.
In other news, CEO Michael L. Baur sold 2,814 shares of the company’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $35.84, for a total transaction of $100,853.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Baur sold 7,671 shares of the company’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $35.63, for a total transaction of $273,317.73. Following the sale, the chief executive officer now directly owns 123,792 shares of the company’s stock, valued at approximately $4,410,708.96. The disclosure for this sale can be found here. Insiders have sold a total of 37,071 shares of company stock valued at $1,375,261 in the last ninety days. Insiders own 4.59% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SCSC. Captrust Financial Advisors raised its holdings in ScanSource by 3,772.7% during the 1st quarter. Captrust Financial Advisors now owns 852 shares of the industrial products company’s stock valued at $26,000 after buying an additional 830 shares during the period. Amundi purchased a new stake in ScanSource during the 2nd quarter valued at $143,000. Cubist Systematic Strategies LLC purchased a new stake in ScanSource in the first quarter worth $194,000. Arizona State Retirement System purchased a new stake in ScanSource in the first quarter worth $221,000. Finally, Metropolitan Life Insurance Co NY increased its stake in ScanSource by 112,771.4% in the second quarter. Metropolitan Life Insurance Co NY now owns 7,901 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 7,894 shares during the period. Institutional investors own 95.60% of the company’s stock.
Shares of SCSC traded down $1.00 during trading hours on Tuesday, hitting $34.29. The company had a trading volume of 2,552 shares, compared to its average volume of 96,177. The firm has a fifty day moving average price of $29.80 and a 200-day moving average price of $29.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.66. The stock has a market capitalization of $874.36 million, a price-to-earnings ratio of 85.73 and a beta of 1.58. ScanSource has a 52-week low of $18.25 and a 52-week high of $38.49.
ScanSource, Inc engages in the development and provision of technology products and services. It operates through the Worldwide Barcode, Networking and Security; and Worldwide Communications and Services segments. The Worldwide Barcode, Networking and Security segment offers enterprise mobile computing, cyber security, automatic identification and data capture, point-of-sale, electronic physical security, and three-dimensional printing technologies.
Recommended Story: How do buyers and sellers choose a strike price?
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.