ScanSource, Inc. (NASDAQ:SCSC) to Post FY2024 Earnings of $3.17 Per Share, Sidoti Csr Forecasts

ScanSource, Inc. (NASDAQ:SCSC - Free Report) - Research analysts at Sidoti Csr cut their FY2024 earnings estimates for ScanSource in a note issued to investors on Tuesday, May 7th. Sidoti Csr analyst G. Burns now forecasts that the industrial products company will post earnings of $3.17 per share for the year, down from their prior estimate of $3.40. The consensus estimate for ScanSource's current full-year earnings is $3.39 per share. Sidoti Csr also issued estimates for ScanSource's Q1 2025 earnings at $0.76 EPS, Q3 2025 earnings at $0.68 EPS, Q1 2026 earnings at $0.82 EPS, Q2 2026 earnings at $0.88 EPS, Q3 2026 earnings at $0.79 EPS and FY2026 earnings at $3.52 EPS.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.15). The firm had revenue of $752.60 million for the quarter, compared to analyst estimates of $822.10 million. ScanSource had a net margin of 2.45% and a return on equity of 9.18%. The firm's revenue for the quarter was down 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS.

ScanSource Stock Up 1.7 %

Shares of ScanSource stock traded up $0.79 on Thursday, hitting $47.38. The company had a trading volume of 263,132 shares, compared to its average volume of 208,069. The firm has a market capitalization of $1.19 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.26 and a beta of 1.51. ScanSource has a twelve month low of $26.99 and a twelve month high of $48.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.30 and a quick ratio of 1.36. The stock has a 50-day moving average of $42.56 and a 200-day moving average of $38.76.

Institutional Trading of ScanSource

Institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP bought a new stake in ScanSource during the fourth quarter worth $24,912,000. Pacer Advisors Inc. bought a new position in shares of ScanSource in the fourth quarter valued at about $23,236,000. Pzena Investment Management LLC raised its position in shares of ScanSource by 7.2% in the third quarter. Pzena Investment Management LLC now owns 1,804,048 shares of the industrial products company's stock valued at $54,681,000 after purchasing an additional 120,721 shares during the period. Assenagon Asset Management S.A. raised its position in shares of ScanSource by 90.9% in the third quarter. Assenagon Asset Management S.A. now owns 242,619 shares of the industrial products company's stock valued at $7,354,000 after purchasing an additional 115,495 shares during the period. Finally, Empowered Funds LLC raised its position in shares of ScanSource by 86.1% in the first quarter. Empowered Funds LLC now owns 114,327 shares of the industrial products company's stock valued at $5,035,000 after purchasing an additional 52,895 shares during the period. Institutional investors own 97.91% of the company's stock.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.