ScanSource, Inc. (NASDAQ:SCSC – Get Free Report)’s share price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $49.99, but opened at $47.83. ScanSource shares last traded at $45.16, with a volume of 22,913 shares.
The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a return on equity of 8.53% and a net margin of 2.49%. During the same period last year, the firm earned $0.85 earnings per share.
Insiders Place Their Bets
In other news, CEO Michael L. Baur sold 15,081 shares of ScanSource stock in a transaction on Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the completion of the sale, the chief executive officer now owns 177,760 shares of the company’s stock, valued at $8,811,563.20. The trade was a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brandy Ford sold 1,845 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the transaction, the chief accounting officer now owns 9,506 shares in the company, valued at $469,406.28. This trade represents a 16.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,855 shares of company stock valued at $2,702,949 in the last ninety days. Insiders own 4.20% of the company’s stock.
Hedge Funds Weigh In On ScanSource
ScanSource Stock Down 14.8 %
The firm’s 50-day moving average price is $49.88 and its 200-day moving average price is $48.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.46 and a beta of 1.45.
ScanSource Company Profile
ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. 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.
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