ScanSource Stock (NASDAQ:SCSC), Trade Ideas

ScanSource

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.

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ScanSource, Inc. (NASDAQ: SCSC) reported Q4 revenues of $947.15 million, down 1.6% Y/Y.

ScanSource Q4 Earnings Beat Estimates, Plans Working Capital Optimization To Reach Margin Expectations

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ScanSource Inc

WIIM

ScanSource shares are trading lower after the company reported worse-than-expected Q2 FY24 results and cut its FY24 guidance.

Updated Annual Financial&nbsp;Outlook&nbsp;for Fiscal Year 2024
ScanSource updates its expectations for net sales and adjusted EBITDA for the full fiscal year ending June 30, 2024 and replaces previously provided&nbsp;guidance:
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
FY24 Annual&nbsp;Outlook
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
Prior FY24 Annual&nbsp;Outlook
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Net sales
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
At least&nbsp;$3.5 billion
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
At least&nbsp;$3.8 billion
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Adjusted EBITDA (Non-GAAP)
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
At least&nbsp;$155 million
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
At least&nbsp;$170 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Free cash flow
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
At least&nbsp;$200 million
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
At least&nbsp;$200 million
</td>
</tr>
</tbody>
</table>

ScanSource Expects FY24 Net Sales of at Least $3.5B (Prior at Least $3.8B) Vs $3.71B Est

ScanSource (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>) reported quarterly earnings of $0.85 per share which missed the analyst consensus estimate of $0.97 by 12.37 percent. This is a 19.81 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $884.79 million which missed the analyst consensus estimate of $945.60 million by 6.43 percent. This is a 12.48 percent decrease over sales of $1.01 billion the same period last year.

ScanSource Q2 Adj EPS $0.85 Misses $0.97 Estimate, Sales $884.79M Miss $945.60M Estimate

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Earnings Scheduled For February 6, 2024

ScanSource (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-06. Here's what investors need to know before the announcement.
Analysts estimate that ScanSource will report an earnings per share (EPS) of $0.97. 
ScanSource bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.17, which was followed by a 5.03% increase in the share price the next day.
Here's a look at ScanSource's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.91</td>
<td>0.75</td>
<td>0.91</td>
<td>1.04</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.74</td>
<td>0.76</td>
<td>0.96</td>
<td>1.06</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.03%</td>
<td>14.09%</td>
<td>0.04%</td>
<td>-1.64%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707163344_0.png" alt="eps graph" />
<a href="https://www.benzinga.com/quote/SCSC/earnings">To track all earnings releases for ScanSource visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For ScanSource

Northcoast Research analyst Keith Housum downgrades ScanSource (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>) from Buy to Neutral and announces $36 price target.

Downgrades

Price Target

Analyst Ratings

Northcoast Research Downgrades ScanSource to Neutral, Announces $36 Price Target

Raymond James analyst Adam Tindle maintains ScanSource (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>) with a Outperform and lowers the price target from $40 to $35.

Raymond James Maintains Outperform on ScanSource, Lowers Price Target to $35

ScanSource Sees FY24 At Least Revenue $3.8B Vs $3.88B Est.

Earnings Misses

ScanSource Q1 2024 Adj. EPS $0.74 Misses $0.9 Estimate, Revenue $876.305M Misses $921.466M Estimate

<h3>Understanding Value Stocks</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Benzinga Insights has compiled a list of value stocks in the technology sector that may be worth watching:</h2>
<ol>
<li>IBEX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBEX#NASDAQ">IBEX</a>) - P/E: 9.4</li>
<li>Key Tronic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTCC#NASDAQ">KTCC</a>) - P/E: 8.89</li>
<li>Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) - P/E: 3.59</li>
<li>ScanSource (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>) - P/E: 8.86</li>
<li>Tingo Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIO#NASDAQ">TIO</a>) - P/E: 2.28</li>
</ol>
IBEX's earnings per share for Q4 sits at $0.33, whereas in Q3, they were at 0.59. Key Tronic saw a decrease in earnings per share from 0.18 in Q3 to $0.1 now. Most recently, Canadian Solar reported earnings per share at $2.39, whereas in Q1 earnings per share sat at $1.19. This quarter, ScanSource experienced a decrease in earnings per share, which was $0.96 in Q3 and is now $0.76. Most recently, Tingo Group reported earnings per share at $0.18, whereas in Q1 earnings per share sat at $0.33. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

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A Look Into Technology Sector Value Stocks

<h3>What is a Value Stock?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Below is a list of notable value stocks in the technology sector:</h2>
<ol>
<li>ScanSource (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>) - P/E: 9.24</li>
<li>Consensus Cloud Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSI#NASDAQ">CCSI</a>) - P/E: 7.23</li>
<li>Surgepays (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SURG#NASDAQ">SURG</a>) - P/E: 5.69</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) - P/E: 7.12</li>
<li>Daqo New Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) - P/E: 1.98</li>
</ol>
Most recently, ScanSource reported earnings per share at $0.76, whereas in Q3 earnings per share sat at $0.96. Consensus Cloud Solutions saw an increase in earnings per share from 1.1 in Q1 to $1.36 now. Surgepays has reported Q2 earnings per share at $0.4, which has increased by 25.0% compared to Q1, which was 0.32. United Microelectronics has reported Q2 earnings per share at $0.2, which has decreased by 5.12% compared to Q1, which was 0.21. The company's most recent dividend yield sits at 2.28%, which has decreased by 3.06% from 5.34% last quarter. 
Daqo New Energy's earnings per share for Q2 sits at $1.75, whereas in Q1, they were at 3.93. 
These 5 value stocks were selected by Benzinga Insights based on quantified analysis. While this methodical judgment process is not meant to make final decisions, our technology can give investors additional perception into the sector.

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Overview Of Value Stocks In The Technology Sector

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