ScanSource, Inc. (NASDAQ:SCSC) to Post Q3 2019 Earnings of $0.76 Per Share, Northcoast Research Forecasts

ScanSource, Inc. (NASDAQ:SCSC) – Northcoast Research reduced their Q3 2019 earnings estimates for shares of ScanSource in a research report issued to clients and investors on Monday, May 6th, Zacks Investment Research reports. Northcoast Research analyst K. Housum now forecasts that the industrial products company will post earnings per share of $0.76 for the quarter, down from their previous forecast of $0.81. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for ScanSource’s Q1 2020 earnings at $0.90 EPS and Q2 2020 earnings at $1.06 EPS.

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

Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. TheStreet cut shares of ScanSource from a “b-” rating to a “c+” rating in a report on Friday, May 17th. Finally, ValuEngine cut shares of ScanSource from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.50.

Shares of SCSC traded down $1.24 on Tuesday, hitting $29.21. 170,830 shares of the stock traded hands, compared to its average volume of 113,573. The company has a market capitalization of $777.50 million, a P/E ratio of 9.43 and a beta of 0.72. The company has a quick ratio of 0.99, a current ratio of 2.06 and a debt-to-equity ratio of 0.38. ScanSource has a one year low of $29.15 and a one year high of $44.30.

In related news, CEO Michael L. Baur sold 10,604 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $37.38, for a total value of $396,377.52. Following the sale, the chief executive officer now owns 47,678 shares in the company, valued at $1,782,203.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Grainger bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average price of $30.69 per share, for a total transaction of $122,760.00. Following the acquisition, the director now directly owns 18,100 shares of the company’s stock, valued at approximately $555,489. The disclosure for this purchase can be found here. Company insiders own 2.56% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Investors Research Corp purchased a new position in shares of ScanSource during the 1st quarter worth $25,000. Resources Investment Advisors Inc. purchased a new position in shares of ScanSource during the 1st quarter worth $36,000. PNC Financial Services Group Inc. boosted its stake in shares of ScanSource by 32.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 313 shares during the last quarter. One Wealth Advisors LLC purchased a new position in shares of ScanSource during the 1st quarter worth $44,000. Finally, Quantamental Technologies LLC purchased a new position in shares of ScanSource during the 4th quarter worth $45,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

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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