ScanSource, Inc. (NASDAQ:SCSC) Expected to Post Quarterly Sales of $998.50 Million

Wall Street analysts expect ScanSource, Inc. (NASDAQ:SCSC) to report sales of $998.50 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for ScanSource’s earnings. The highest sales estimate is $998.80 million and the lowest is $998.20 million. ScanSource posted sales of $993.85 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The firm is expected to announce its next earnings report on Tuesday, August 27th.

According to Zacks, analysts expect that ScanSource will report full year sales of $3.91 billion for the current year. For the next financial year, analysts forecast that the business will report sales of $4.02 billion, with estimates ranging from $4.01 billion to $4.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover ScanSource.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, May 9th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01). The business had revenue of $893.40 million during the quarter, compared to the consensus estimate of $931.63 million. ScanSource had a return on equity of 9.90% and a net margin of 1.44%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share.

SCSC has been the topic of several recent analyst reports. TheStreet cut Trinseo from a “b-” rating to a “c+” rating in a research note on Friday, May 17th. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, May 6th. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. ScanSource has an average rating of “Hold” and an average target price of $44.50.

In other news, Director Michael J. Grainger acquired 4,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average cost of $30.69 per share, with a total value of $122,760.00. Following the transaction, the director now owns 18,100 shares in the company, valued at approximately $555,489. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.56% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SCSC. Investors Research Corp bought a new stake in ScanSource during the 1st quarter valued at approximately $25,000. Resources Investment Advisors Inc. purchased a new position in shares of ScanSource during the first quarter valued at approximately $36,000. PNC Financial Services Group Inc. lifted its holdings in shares of ScanSource by 32.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 313 shares during the last quarter. Palouse Capital Management Inc. purchased a new position in shares of ScanSource during the first quarter valued at approximately $204,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of ScanSource by 149.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,847 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 3,499 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ SCSC traded up $0.22 during trading hours on Friday, hitting $32.20. The company’s stock had a trading volume of 77,191 shares, compared to its average volume of 135,786. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.99 and a current ratio of 2.06. The stock has a market capitalization of $821.96 million, a PE ratio of 10.35 and a beta of 0.96. ScanSource has a 12 month low of $28.55 and a 12 month high of $44.30. The stock has a 50-day moving average price of $31.54.

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).

Further Reading: Trading based on a resistance level

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.