Wall Street brokerages predict that ScanSource, Inc. (NASDAQ:SCSC) will post $0.66 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for ScanSource’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.63. ScanSource posted earnings of $0.64 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The firm is expected to issue its next earnings results after the market closes on Tuesday, May 9th.
On average, analysts expect that ScanSource will report full-year earnings of $2.84 per share for the current year, with EPS estimates ranging from $2.81 to $2.88. For the next fiscal year, analysts anticipate that the business will post earnings of $3.13 per share, with EPS estimates ranging from $3.00 to $3.28. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow ScanSource.
ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, February 7th. The industrial products company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The business earned $904.80 million during the quarter, compared to the consensus estimate of $962.57 million. ScanSource had a return on equity of 8.56% and a net margin of 1.85%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS.
Several equities analysts recently issued reports on SCSC shares. FinTrust Advisors cut ScanSource from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $42.20 to $48.50 in a report on Monday, February 20th. Zacks Investment Research cut ScanSource from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th.
Shares of ScanSource (NASDAQ:SCSC) traded down 0.96% on Tuesday, hitting $38.50. The stock had a trading volume of 79,773 shares. The firm’s 50-day moving average is $39.09 and its 200-day moving average is $38.90. ScanSource has a one year low of $29.05 and a one year high of $44.95. The company has a market cap of $972.20 million, a price-to-earnings ratio of 15.36 and a beta of 1.18.
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In other news, CEO Michael L. Baur sold 50,000 shares of the business’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $40.21, for a total value of $2,010,500.00. Following the completion of the transaction, the chief executive officer now directly owns 51,572 shares of the company’s stock, valued at $2,073,710.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Grainger sold 2,900 shares of the business’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $43.15, for a total value of $125,135.00. Following the completion of the transaction, the director now directly owns 10,400 shares of the company’s stock, valued at $448,760. The disclosure for this sale can be found here. Insiders own 3.03% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in ScanSource by 6.7% in the fourth quarter. FMR LLC now owns 3,304,000 shares of the industrial products company’s stock worth $133,316,000 after buying an additional 206,983 shares during the period. BlackRock Fund Advisors boosted its position in ScanSource by 7.9% in the third quarter. BlackRock Fund Advisors now owns 1,788,753 shares of the industrial products company’s stock worth $65,289,000 after buying an additional 130,895 shares during the period. State Street Corp boosted its position in ScanSource by 7.4% in the fourth quarter. State Street Corp now owns 609,459 shares of the industrial products company’s stock worth $24,594,000 after buying an additional 41,959 shares during the period. Atlanta Capital Management Co. L L C boosted its position in ScanSource by 1.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 551,946 shares of the industrial products company’s stock worth $22,271,000 after buying an additional 7,249 shares during the period. Finally, Lombardia Capital Partners LLC boosted its position in ScanSource by 3.9% in the third quarter. Lombardia Capital Partners LLC now owns 429,869 shares of the industrial products company’s stock worth $15,690,000 after buying an additional 16,029 shares during the period. 98.93% of the stock is owned by institutional investors.
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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