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

ScanSource, Inc. (NASDAQ:SCSC) – Research analysts at Sidoti Csr cut their FY2024 EPS estimates for shares of 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 previous forecast 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) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.15). The company had revenue of $752.60 million during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share.

ScanSource Stock Up 1.7 %

Shares of NASDAQ:SCSC opened at $47.38 on Thursday. The company has a 50 day moving average of $42.64 and a two-hundred day moving average of $38.82. ScanSource has a 52-week low of $26.99 and a 52-week high of $48.22. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51.

Institutional Trading of ScanSource

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ScanSource by 23.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,473 shares of the industrial products company’s stock valued at $166,000 after buying an additional 1,034 shares in the last quarter. Mackenzie Financial Corp lifted its stake in ScanSource by 45.9% during the third quarter. Mackenzie Financial Corp now owns 11,138 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 3,506 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in ScanSource by 65.5% in the third quarter. Teacher Retirement System of Texas now owns 19,690 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 7,796 shares during the period. Assenagon Asset Management S.A. increased its stake in ScanSource by 90.9% during 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 last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of ScanSource during the third quarter worth $455,000. 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.