Brokerages forecast that ScanSource, Inc. (NASDAQ:SCSC) will announce earnings of $0.74 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for ScanSource’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.73. ScanSource reported earnings per share of $0.89 during the same quarter last year, which would suggest a negative year-over-year growth rate of 16.9%. The company is expected to issue its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that ScanSource will report full-year earnings of $3.03 per share for the current year, with EPS estimates ranging from $2.95 to $3.10. For the next year, analysts anticipate that the business will report earnings of $3.10 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover ScanSource.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, August 20th. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.12). The company had revenue of $960.80 million during the quarter, compared to analysts’ expectations of $999.63 million. ScanSource had a return on equity of 9.60% and a net margin of 1.49%. ScanSource’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS.
Several institutional investors and hedge funds have recently modified their holdings of SCSC. Advisor Group Inc. increased its position in shares of ScanSource by 74.9% in the second quarter. Advisor Group Inc. now owns 782 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 335 shares during the period. Tower Research Capital LLC TRC boosted its stake in ScanSource by 1,067.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,214 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,110 shares in the last quarter. Palouse Capital Management Inc. bought a new stake in ScanSource during the first quarter worth about $204,000. Capital Investment Advisory Services LLC bought a new stake in ScanSource during the second quarter worth about $370,000. Finally, Commonwealth Equity Services LLC bought a new stake in ScanSource during the second quarter worth about $409,000. 96.48% of the stock is owned by institutional investors and hedge funds.
Shares of SCSC stock traded down $0.36 during mid-day trading on Thursday, reaching $29.00. The stock had a trading volume of 81,716 shares, compared to its average volume of 123,051. The firm’s 50 day simple moving average is $29.61 and its 200 day simple moving average is $32.51. The company has a quick ratio of 1.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.38. ScanSource has a one year low of $26.84 and a one year high of $44.30. The firm has a market cap of $750.17 million, a PE ratio of 8.63 and a beta of 0.97.
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).
See Also: FAANG Stocks
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.