Brokerages Anticipate ScanSource, Inc. (SCSC) Will Announce Quarterly Sales of $895.75 Million

Analysts forecast that ScanSource, Inc. (NASDAQ:SCSC) will report $895.75 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for ScanSource’s earnings. The highest sales estimate is $906.60 million and the lowest is $884.90 million. ScanSource reported sales of $813.54 million during the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 8th.

On average, analysts expect that ScanSource will report full year sales of $895.75 million for the current year, with estimates ranging from $3.71 billion to $3.82 billion. For the next year, analysts expect that the business will post sales of $3.89 billion per share, with estimates ranging from $3.81 billion to $3.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow ScanSource.

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

A number of research firms have recently weighed in on SCSC. Zacks Investment Research lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. TheStreet lowered shares of ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. ValuEngine lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, BidaskClub upgraded shares of ScanSource from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.25.

Shares of ScanSource (NASDAQ:SCSC) traded up $0.10 during trading on Friday, reaching $32.65. 117,500 shares of the company’s stock were exchanged, compared to its average volume of 96,976. The firm has a market cap of $832.35, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 3.51 and a beta of 1.06. ScanSource has a twelve month low of $31.40 and a twelve month high of $45.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.15 and a quick ratio of 1.26.

Several large investors have recently added to or reduced their stakes in SCSC. Cubist Systematic Strategies LLC acquired a new stake in shares of ScanSource in the third quarter worth $202,000. Piedmont Investment Advisors LLC acquired a new stake in shares of ScanSource in the second quarter worth $221,000. Palouse Capital Management Inc. acquired a new stake in shares of ScanSource in the third quarter worth $226,000. Victory Capital Management Inc. increased its stake in shares of ScanSource by 94.5% in the third quarter. Victory Capital Management Inc. now owns 5,785 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 2,811 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of ScanSource by 26.5% in the third quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 1,262 shares during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.

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About ScanSource

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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