Separately, Zacks Investment Research downgraded ScanSource from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th.
NASDAQ SCSC opened at $38.41 on Friday. The firm has a market cap of $963.07 million, a price-to-earnings ratio of 12.35 and a beta of 0.71. The company has a current ratio of 2.03, a quick ratio of 1.07 and a debt-to-equity ratio of 0.41. ScanSource has a fifty-two week low of $32.02 and a fifty-two week high of $44.30.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. ScanSource had a return on equity of 9.73% and a net margin of 1.42%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $0.90 EPS. ScanSource’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that ScanSource will post 3.58 earnings per share for the current year.
In other ScanSource news, CEO Michael L. Baur sold 10,604 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 47,678 shares in the company, valued at approximately $1,782,203.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.56% of the company’s stock.
Several large investors have recently modified their holdings of SCSC. Norges Bank bought a new stake in shares of ScanSource in the fourth quarter worth $18,911,000. BlackRock Inc. raised its position in ScanSource by 5.4% during the 3rd quarter. BlackRock Inc. now owns 4,350,891 shares of the industrial products company’s stock worth $173,599,000 after purchasing an additional 223,609 shares during the last quarter. Prudential Financial Inc. lifted its holdings in ScanSource by 45.0% during the 4th quarter. Prudential Financial Inc. now owns 292,226 shares of the industrial products company’s stock worth $10,046,000 after buying an additional 90,639 shares during the period. Peregrine Capital Management LLC lifted its holdings in ScanSource by 49.6% during the 4th quarter. Peregrine Capital Management LLC now owns 246,111 shares of the industrial products company’s stock worth $8,461,000 after buying an additional 81,583 shares during the period. Finally, American Century Companies Inc. acquired a new position in ScanSource during the 4th quarter worth about $1,967,000. Institutional investors own 97.41% of the company’s stock.
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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