Analysts Anticipate ScanSource, Inc. (NASDAQ:SCSC) Will Announce Quarterly Sales of $922.75 Million

Brokerages expect that ScanSource, Inc. (NASDAQ:SCSC) will post $922.75 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for ScanSource’s earnings, with estimates ranging from $863.30 million to $982.20 million. ScanSource posted sales of $972.90 million in the same quarter last year, which suggests a negative year over year growth rate of 5.2%. The company is expected to issue its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that ScanSource will report full-year sales of $3.70 billion for the current financial year, with estimates ranging from $3.45 billion to $3.96 billion. For the next financial year, analysts expect that the company will post sales of $3.53 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for ScanSource.

ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, August 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.12). The firm had revenue of $960.80 million for the quarter, compared to analyst estimates of $999.63 million. ScanSource had a return on equity of 9.60% and a net margin of 1.49%. ScanSource’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share.

A number of research analysts recently issued reports on SCSC shares. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. BidaskClub lowered ScanSource from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James lowered their target price on ScanSource from $44.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, August 21st. Finally, ValuEngine upgraded ScanSource from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $39.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in SCSC. Advisor Group Inc. raised its stake in shares of ScanSource by 74.9% during the 2nd quarter. Advisor Group Inc. now owns 782 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 335 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of ScanSource by 1,067.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,214 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ScanSource by 51.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 657 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of ScanSource in the 3rd quarter valued at approximately $62,000. Finally, Capital Investment Advisory Services LLC bought a new position in shares of ScanSource in the 2nd quarter valued at approximately $370,000. Hedge funds and other institutional investors own 96.55% of the company’s stock.

NASDAQ:SCSC traded down $0.25 during mid-day trading on Friday, reaching $30.95. 88,697 shares of the stock were exchanged, compared to its average volume of 136,835. The business has a fifty day moving average price of $29.69 and a 200 day moving average price of $32.27. The firm has a market capitalization of $787.52 million, a PE ratio of 9.21 and a beta of 0.97. ScanSource has a 1-year low of $26.84 and a 1-year high of $44.30. The company has a current ratio of 2.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

About ScanSource

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).

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