Wall Street brokerages predict that ScanSource, Inc. (NASDAQ:SCSC) will announce sales of $808.95 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for ScanSource’s earnings, with estimates ranging from $802.20 million to $815.70 million. ScanSource posted sales of $782.51 million in the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The business is expected to announce its next earnings results on Monday, November 8th.
According to Zacks, analysts expect that ScanSource will report full year sales of $3.32 billion for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will post sales of $3.49 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow ScanSource.
ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Monday, August 23rd. The industrial products company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.39. ScanSource had a return on equity of 10.07% and a net margin of 0.34%. The company had revenue of $852.69 million for the quarter, compared to analysts’ expectations of $759.75 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue was up 34.0% compared to the same quarter last year.
In related news, CEO Michael L. Baur sold 19,032 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $37.74, for a total transaction of $718,267.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael L. Baur sold 7,671 shares of the firm’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $35.63, for a total value of $273,317.73. Following the transaction, the chief executive officer now directly owns 123,792 shares in the company, valued at approximately $4,410,708.96. The disclosure for this sale can be found here. Insiders sold 37,071 shares of company stock worth $1,375,261 in the last three months. 4.59% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of SCSC. Parametric Portfolio Associates LLC raised its position in shares of ScanSource by 1.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 61,088 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 794 shares during the last quarter. Morgan Stanley grew its stake in ScanSource by 52.9% in the 2nd quarter. Morgan Stanley now owns 100,054 shares of the industrial products company’s stock worth $2,815,000 after acquiring an additional 34,622 shares during the period. Wells Fargo & Company MN grew its stake in shares of ScanSource by 58.5% during the 2nd quarter. Wells Fargo & Company MN now owns 47,436 shares of the industrial products company’s stock valued at $1,334,000 after buying an additional 17,500 shares during the period. Invesco Ltd. grew its stake in shares of ScanSource by 12.3% during the 2nd quarter. Invesco Ltd. now owns 320,246 shares of the industrial products company’s stock valued at $9,008,000 after buying an additional 35,054 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of ScanSource by 112,771.4% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,901 shares of the industrial products company’s stock valued at $222,000 after buying an additional 7,894 shares during the period. Institutional investors own 95.60% of the company’s stock.
Shares of NASDAQ SCSC traded down $0.11 during mid-day trading on Thursday, hitting $33.81. The company had a trading volume of 1,469 shares, compared to its average volume of 97,900. The company has a market capitalization of $862.12 million, a PE ratio of 84.80 and a beta of 1.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 1.02. ScanSource has a 1-year low of $18.46 and a 1-year high of $38.49. The business’s 50-day simple moving average is $30.59 and its 200 day simple moving average is $30.13.
ScanSource Company Profile
ScanSource, Inc engages in the development and provision of technology products and services. It operates through the Worldwide Barcode, Networking and Security; and Worldwide Communications and Services segments. The Worldwide Barcode, Networking and Security segment offers enterprise mobile computing, cyber security, automatic identification and data capture, point-of-sale, electronic physical security, and three-dimensional printing technologies.
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