Equities research analysts predict that ScanSource, Inc. (NASDAQ:SCSC) will post sales of $998.50 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for ScanSource’s earnings, with the highest sales estimate coming in at $998.80 million and the lowest estimate coming in at $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 report its next quarterly earnings report on Tuesday, August 27th.

On average, analysts expect that ScanSource will report full year sales of $3.91 billion for the current fiscal year. For the next year, analysts forecast that the firm will post sales of $4.02 billion, with estimates ranging from $4.01 billion to $4.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for ScanSource.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.01). The firm had revenue of $893.40 million for the quarter, compared to analyst estimates of $931.63 million. ScanSource had a net margin of 1.44% and a return on equity of 9.90%. The business’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 posted $0.68 earnings per share.

A number of research firms have recently commented on SCSC. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. ValuEngine downgraded Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. TheStreet cut Trinseo from a “b-” rating to a “c+” rating in a research note on Friday, May 17th. Finally, Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.50.

Shares of ScanSource stock traded down $0.07 during trading on Friday, hitting $31.98. 61,987 shares of the stock traded hands, compared to its average volume of 116,578. 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 company has a market capitalization of $818.06 million, a PE ratio of 10.28 and a beta of 0.96. The business has a fifty day simple moving average of $31.48. ScanSource has a 52 week low of $28.55 and a 52 week high of $44.30.

In other news, Director Michael J. Grainger acquired 4,000 shares of ScanSource stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $30.69 per share, with a total value of $122,760.00. Following the completion of the purchase, the director now owns 18,100 shares of the company’s stock, valued at approximately $555,489. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.56% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of SCSC. Norges Bank acquired a new position in ScanSource during the 4th quarter worth $18,911,000. BlackRock Inc. lifted its position in ScanSource by 3.7% in the 4th quarter. BlackRock Inc. now owns 4,513,605 shares of the industrial products company’s stock valued at $155,177,000 after purchasing an additional 162,714 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of ScanSource by 120.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 184,704 shares of the industrial products company’s stock worth $6,616,000 after buying an additional 100,975 shares in the last quarter. Martingale Asset Management L P raised its position in shares of ScanSource by 139.0% during the 1st quarter. Martingale Asset Management L P now owns 125,517 shares of the industrial products company’s stock worth $4,497,000 after buying an additional 73,010 shares in the last quarter. Finally, New Amsterdam Partners LLC NY bought a new stake in shares of ScanSource during the 1st quarter worth about $2,593,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for ScanSource (NASDAQ:SCSC)

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