|Bid||25.29 x 1200|
|Ask||25.34 x 800|
|Day's Range||25.21 - 25.67|
|52 Week Range||13.78 - 39.01|
|Beta (5Y Monthly)||1.25|
|PE Ratio (TTM)||17.82|
|Earnings Date||Aug 18, 2020 - Aug 24, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||32.50|
ScanSource, Inc. (NASDAQ: SCSC) today announced that it has agreed to sell its products businesses in Mexico, Colombia, Chile, and Peru and its Miami-based export operations (the "Latin America business outside of Brazil") to Intcomex. This action is part of ScanSource’s strategic portfolio repositioning to align investments with higher-growth, higher-margin businesses, including ScanSource Brazil.
Shares of ScanSource Inc. rallied 2.0% in afternoon trading Thursday, after the provider of barcode, networking, security and business communications services provided an upbeat sales outlook, while also saying it will cut jobs as part of a expense-reduction plan. The company said it expects fiscal fourth-quarter net sales of $758 million, compared with the FactSet consensus for total revenue of $718 million. ScanSource also announced a $30 million cost cutting plan, which will include a reduction of its North America workforce, salary reductions of 10% to 25% for its executive team, elimination of cash retainers for the board of directors for the rest of the year and cutting discretionary spending. The company said it was closing its Canpango professional services business, which it acquired in August 2018, which is expected to result in a $2 million charge. The stock has tumbled 31.2% year to date, while the S&P 500 has gained 1.0%.
ScanSource, Inc. (Nasdaq: SCSC), a leading provider of technology products and solutions, today announced actions to address the business impacts of the COVID-19 pandemic and prepare for the next phase of growth.