ScanSource, Inc. (SCSC) Expected to Post Quarterly Sales of $888.53 Million

Analysts expect ScanSource, Inc. (NASDAQ:SCSC) to report sales of $888.53 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for ScanSource’s earnings. The highest sales estimate is $906.60 million and the lowest is $874.10 million. ScanSource posted sales of $813.54 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The business is scheduled to report its next quarterly earnings results on Tuesday, May 8th.

On average, analysts expect that ScanSource will report full year sales of $888.53 million for the current year, with estimates ranging from $3.81 billion to $3.82 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.96 billion per share, with estimates ranging from $3.90 billion to $4.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ScanSource.

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ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. ScanSource had a return on equity of 9.06% and a net margin of 1.18%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $965.15 million. During the same period in the prior year, the business posted $0.75 earnings per share. ScanSource’s revenue was up 14.1% compared to the same quarter last year.

Several equities research analysts recently issued reports on SCSC shares. BidaskClub raised ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded ScanSource from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. ValuEngine downgraded ScanSource from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday, March 26th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. ScanSource presently has a consensus rating of “Hold” and an average price target of $40.50.

A number of hedge funds have recently modified their holdings of SCSC. Renaissance Technologies LLC acquired a new position in ScanSource in the 4th quarter worth about $4,782,000. Assenagon Asset Management S.A. acquired a new position in ScanSource in the 4th quarter worth about $4,330,000. Paradigm Capital Management Inc. NY acquired a new position in ScanSource in the 4th quarter worth about $4,012,000. BlackRock Inc. increased its position in ScanSource by 3.4% in the 4th quarter. BlackRock Inc. now owns 3,242,376 shares of the industrial products company’s stock worth $116,078,000 after purchasing an additional 107,368 shares during the last quarter. Finally, Deutsche Bank AG increased its position in ScanSource by 431.5% in the 4th quarter. Deutsche Bank AG now owns 126,300 shares of the industrial products company’s stock worth $4,519,000 after purchasing an additional 102,539 shares during the last quarter. 96.38% of the stock is currently owned by institutional investors.

ScanSource stock traded up $0.07 during mid-day trading on Tuesday, hitting $34.67. The company’s stock had a trading volume of 62,266 shares, compared to its average volume of 108,254. The company has a market cap of $884.77, a P/E ratio of 11.57, a P/E/G ratio of 3.65 and a beta of 1.01. The company has a current ratio of 2.15, a quick ratio of 1.26 and a debt-to-equity ratio of 0.42. ScanSource has a 52-week low of $31.40 and a 52-week high of $45.35.

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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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Earnings History and Estimates for ScanSource (NASDAQ:SCSC)

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