Wall Street brokerages expect ScanSource, Inc. (NASDAQ:SCSC) to post sales of $969.23 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for ScanSource’s earnings. The lowest sales estimate is $963.20 million and the highest is $974.10 million. ScanSource reported sales of $904.79 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The firm is expected to report its next quarterly earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that ScanSource will report full-year sales of $969.23 million for the current year, with estimates ranging from $3.69 billion to $3.76 billion. For the next year, analysts anticipate that the company will post sales of $3.85 billion per share, with estimates ranging from $3.81 billion to $3.89 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover ScanSource.
ScanSource (NASDAQ:SCSC) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). ScanSource had a net margin of 1.65% and a return on equity of 8.78%. The company had revenue of $924.56 million during the quarter, compared to analyst estimates of $966.20 million. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis.
In related news, CEO Michael L. Baur sold 17,621 shares of ScanSource stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $44.32, for a total transaction of $780,962.72. Following the completion of the transaction, the chief executive officer now owns 35,209 shares of the company’s stock, valued at $1,560,462.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael L. Baur sold 5,435 shares of ScanSource stock in a transaction on Monday, October 9th. The stock was sold at an average price of $43.80, for a total transaction of $238,053.00. The disclosure for this sale can be found here. Insiders have sold 81,321 shares of company stock valued at $3,588,984 in the last ninety days. Insiders own 2.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System raised its stake in ScanSource by 5.1% during the third quarter. California Public Employees Retirement System now owns 96,200 shares of the industrial products company’s stock worth $4,199,000 after buying an additional 4,700 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in ScanSource during the third quarter worth $202,000. Convergence Investment Partners LLC bought a new position in ScanSource during the third quarter worth $1,759,000. OxFORD Asset Management LLP raised its stake in ScanSource by 23.4% during the third quarter. OxFORD Asset Management LLP now owns 29,473 shares of the industrial products company’s stock worth $1,303,000 after buying an additional 5,593 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in ScanSource by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 285,462 shares of the industrial products company’s stock worth $12,461,000 after buying an additional 14,381 shares during the last quarter. 94.35% of the stock is owned by institutional investors and hedge funds.
Shares of ScanSource (NASDAQ SCSC) opened at $35.05 on Friday. ScanSource has a 52-week low of $33.55 and a 52-week high of $45.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.08. The firm has a market cap of $897.28, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 3.94 and a beta of 1.03.
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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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