ScanSource, Inc. (NASDAQ:SCSC) Expected to Earn FY2024 Earnings of $3.17 Per Share

ScanSource, Inc. (NASDAQ:SCSC) – Sidoti Csr dropped their FY2024 earnings per share (EPS) estimates for shares of ScanSource in a research report issued to clients and investors on Tuesday, May 7th. Sidoti Csr analyst G. Burns now anticipates 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 released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.15). The company had revenue of $752.60 million for the quarter, compared to analyst estimates of $822.10 million. ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The business’s revenue was down 15.0% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share.

ScanSource Stock Performance

ScanSource stock opened at $46.59 on Thursday. The stock’s 50 day moving average price is $42.56 and its 200 day moving average price is $38.76. The firm has a market capitalization of $1.17 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 2.30. ScanSource has a one year low of $26.26 and a one year high of $47.38.

Institutional Investors Weigh In On ScanSource

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its holdings in ScanSource by 56.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,270 shares of the industrial products company’s stock worth $496,000 after purchasing an additional 4,080 shares during the last quarter. ProShare Advisors LLC purchased a new stake in ScanSource during the 1st quarter worth approximately $220,000. Russell Investments Group Ltd. increased its holdings in shares of ScanSource by 10.8% in the 1st quarter. Russell Investments Group Ltd. now owns 31,188 shares of the industrial products company’s stock valued at $1,374,000 after acquiring an additional 3,034 shares during the last quarter. Swiss National Bank increased its holdings in shares of ScanSource by 1.2% in the 1st quarter. Swiss National Bank now owns 49,600 shares of the industrial products company’s stock valued at $2,184,000 after acquiring an additional 600 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of ScanSource in the 1st quarter valued at approximately $128,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

About ScanSource

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.