ScanSource (SCSC) Stock Sinks As Market Gains: What You Should Know
ScanSource (SCSC) closed at $37.05 in the latest trading session, marking a -1.88% move from the prior day.
ScanSource (SCSC) closed at $37.05 in the latest trading session, marking a -1.88% move from the prior day. This change lagged the S&P 500's 0.18% gain on the day.
Prior to today's trading, shares of the technology products distributor had gained 1.83% over the past month. This has outpaced the Industrial Products sector's gain of 1.08% and lagged the S&P 500's gain of 2.96% in that time.
Wall Street will be looking for positivity from SCSC as it approaches its next earnings report date. This is expected to be November 9, 2021. The company is expected to report EPS of $0.75, up 78.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $802.2 million, up 2.52% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.23 per share and revenue of $3.32 billion. These totals would mark changes of +17.88% and +4.65%, respectively, from last year.
Any recent changes to analyst estimates for SCSC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SCSC is currently a Zacks Rank #3 (Hold).
Digging into valuation, SCSC currently has a Forward P/E ratio of 11.69. Its industry sports an average Forward P/E of 22.86, so we one might conclude that SCSC is trading at a discount comparatively.
The Industrial Services industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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