ScanSource (NASDAQ:SCSC) updated its first quarter 2019 earnings guidance on Tuesday. The company provided EPS guidance of $0.92-0.98 for the period. The company issued revenue guidance of $1.01-1.07 billion, compared to the consensus revenue estimate of $1.07 billion.ScanSource also updated its Q2 guidance to $0.92-0.98 EPS.
Several research firms have weighed in on SCSC. BidaskClub lowered ScanSource from a buy rating to a hold rating in a research report on Tuesday, August 28th. Raymond James boosted their price target on ScanSource from $44.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, August 29th. Zacks Investment Research raised ScanSource from a sell rating to a hold rating in a research report on Wednesday, October 31st. Finally, ValuEngine lowered ScanSource from a hold rating to a sell rating in a research report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $46.00.
Shares of NASDAQ:SCSC traded down $0.38 during trading on Wednesday, hitting $41.25. 42,527 shares of the company were exchanged, compared to its average volume of 107,941. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 13.26 and a beta of 0.72. ScanSource has a fifty-two week low of $31.40 and a fifty-two week high of $44.27. The company has a quick ratio of 1.08, a current ratio of 1.92 and a debt-to-equity ratio of 0.29.
In other news, CFO Gerald Lyons sold 600 shares of ScanSource stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $44.00, for a total transaction of $26,400.00. Following the completion of the transaction, the chief financial officer now directly owns 12,937 shares in the company, valued at approximately $569,228. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael L. Baur sold 13,747 shares of ScanSource stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $604,868.00. Following the transaction, the chief executive officer now owns 49,446 shares of the company’s stock, valued at $2,175,624. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.
ScanSource Company Profile
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).
Read More: Why do companies issue stock splits?
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.