17-May-2024
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ScanSource Reports Third Quarter Results
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ScanSource to Announce Third Quarter Fiscal Year 2024 Results May 7, 2024
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ScanSource to Present at Raymond James Institutional Investors Conference
Business Wire (Tue, 27-Feb 8:30 AM ET)
ScanSource Inc provides value-added services for technology manufacturers and sells to resellers in specialty technology markets. The firm's operations are organized in two segments: Specialty Technology Solutions and Modern Communications and Cloud. It generates maximum revenue from the Specialty Technology Solutions segment. The Specialty Technology Solutions segment includes the Company's business in mobility and barcode, POS, payments, security and networking technologies. Geographically, it derives a majority of revenue from the United States.
Scansource trades on the NASDAQ stock market under the symbol SCSC.
As of May 17, 2024, SCSC stock price declined to $49.33 with 174,383 million shares trading.
SCSC has a beta of 1.09, meaning it tends to be more sensitive to market movements. SCSC has a correlation of 0.20 to the broad based SPY ETF.
SCSC has a market cap of $1.22 billion. This is considered a Small Cap stock.
Last quarter Scansource reported $753 million in Revenue and $.69 earnings per share. This fell short of revenue expectation by $-77 million and missed earnings estimates by -$.15.
In the last 3 years, SCSC stock traded as high as $50.19 and as low as $24.89.
The top ETF exchange traded funds that SCSC belongs to (by Net Assets): IJR, CALF, VTI, IWM, VB.
SCSC has outperformed the market in the last year with a price return of +73.8% while the SPY ETF gained +30.7%. SCSC has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +16.8% and +16.2%, respectively, while the SPY returned +6.3% and +4.8%, respectively.
SCSC support price is $48.76 and resistance is $50.90 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SCSC stock will trade within this expected range on the day.