ScanSource (NASDAQ:SCSC) Updates Q1 Earnings Guidance

ScanSource (NASDAQ:SCSC) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.70-$0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.90. The company issued revenue guidance of $970-$1.03 billion, compared to the consensus revenue estimate of $1.00 billion.ScanSource also updated its Q1 2020 guidance to $0.70-0.75 EPS.

Shares of SCSC traded down $0.56 during midday trading on Tuesday, reaching $31.27. 300,330 shares of the stock were exchanged, compared to its average volume of 116,248. ScanSource has a twelve month low of $28.55 and a twelve month high of $44.30. The company has a quick ratio of 0.99, a current ratio of 2.06 and a debt-to-equity ratio of 0.38. The company has a market cap of $808.60 million, a P/E ratio of 10.05 and a beta of 0.95. The stock’s 50 day simple moving average is $32.26 and its 200 day simple moving average is $34.67.

SCSC has been the subject of a number of analyst reports. ValuEngine downgraded ScanSource from a hold rating to a sell rating in a research note on Friday, May 10th. Zacks Investment Research raised ScanSource from a sell rating to a hold rating in a research note on Tuesday. Northcoast Research downgraded ScanSource from a buy rating to a neutral rating in a research note on Monday, May 6th. BidaskClub raised ScanSource from a sell rating to a hold rating in a research note on Friday, July 26th. Finally, TheStreet downgraded ScanSource from a b- rating to a c+ rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $44.50.

ScanSource Company Profile

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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Earnings History and Estimates for ScanSource (NASDAQ:SCSC)

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