$969.23 Million in Sales Expected for ScanSource, Inc. (SCSC) This Quarter

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.

Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of ScanSource from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, October 2nd. ValuEngine raised shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, TheStreet downgraded shares of ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $45.75.

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.

WARNING: “$969.23 Million in Sales Expected for ScanSource, Inc. (SCSC) This Quarter” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.com-unik.info/2017/12/23/969-23-million-in-sales-expected-for-scansource-inc-scsc-this-quarter.html.

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.

Get a free copy of the Zacks research report on ScanSource (SCSC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ScanSource (NASDAQ:SCSC)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit