ScanSource (SCSC) Stock Forecast, Price & News

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ScanSource in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" SCSC shares.
View SCSC analyst ratings or view top-rated stocks.

2 brokers have issued 12 month target prices for ScanSource's stock. Their SCSC share price forecasts range from $40.00 to $40.00. On average, they predict the company's share price to reach $40.00 in the next year. This suggests a possible upside of 31.5% from the stock's current price.
View analysts price targets for SCSC or view top-rated stocks among Wall Street analysts.

ScanSource's stock was trading at $29.22 at the start of the year. Since then, SCSC shares have increased by 4.1% and is now trading at $30.41.
View the best growth stocks for 2023 here.

ScanSource saw a decline in short interest in the month of September. As of September 15th, there was short interest totaling 286,900 shares, a decline of 14.4% from the August 31st total of 335,200 shares. Based on an average daily volume of 107,600 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.2% of the company's stock are sold short.
View ScanSource's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 14th 2023.
View our SCSC earnings forecast.

ScanSource, Inc. (NASDAQ:SCSC) issued its quarterly earnings results on Tuesday, August, 22nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. The industrial products company had revenue of $947.10 million for the quarter, compared to the consensus estimate of $875.20 million. ScanSource had a net margin of 2.37% and a trailing twelve-month return on equity of 11.25%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS.

ETFs with the largest weight of ScanSource (NASDAQ:SCSC) stock in their portfolio include Invesco S&P SmallCap Value with Momentum ETF (XSVM) and Invesco S&P SmallCap 600 Pure Value ETF (RZV).Invesco Russell 2000 Dynamic Multifactor ETF (OMFS).

ScanSource updated its FY 2024 earnings guidance on Tuesday, August, 22nd. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $3.90B-, compared to the consensus revenue estimate of $3.72 billion.

131 employees have rated ScanSource Chief Executive Officer Mike Baur on Glassdoor.com. Mike Baur has an approval rating of 76% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other ScanSource investors own include TD SYNNEX (SNX), Las Vegas Sands (LVS), Tesla (TSLA), Carnival Co. & (CCL), FireEye (FEYE), ONEOK (OKE), Pattern Energy Group (PEGI), TELUS (TU), Verizon Communications (VZ) and Walmart (WMT).

ScanSource trades on the NASDAQ under the ticker symbol "SCSC."

Shares of SCSC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of SCSC stock can currently be purchased for approximately $30.41.

ScanSource (NASDAQ:SCSC) has a market capitalization of $755.38 million and generates $3.79 billion in revenue each year. The industrial products company earns $89.81 million in net income (profit) each year or $3.53 on an earnings per share basis.

The company employs 2,300 workers across the globe.

ScanSource's mailing address is 6 LOGUE COURT, GREENVILLE SC, 29615. The official website for the company is www.scansource.com. The industrial products company can be reached via phone at (864) 288-2432, via email at investor@scansource.com, or via fax at 864-288-5515.