ScanSource Inc: Falls on weak Q4 results, forecast

ScanSource

21/08/2019 16:04

** The provider of technology solutions providers shares
 SCSC.O  fell as much as 8.3% at $28.55 - touch lowest in more
than three-years
    ** Co posts Q4 rev of $960.8 mln vs est $999.6 mln; adj
earnings of 71 cents/shr vs est of 82 cents/shr - Refinitiv
 urn:newsml:reuters.com:*:nBw5stv7Va
    ** Forecasts Q1 2020 adj earnings between 70 cents/shr and
75 cents/shr, below est of 90 cents/shr - Refinitiv
    ** Co said on Tuesday it would divest some of its business
outside U.S., Canada and Brazil to "align investments with
higher-growth, higher-margin businesses"  urn:newsml:reuters.com:*:nBw4XR6Qga
    ** Brokerage Raymond James cuts PT by $8 to $36 "given
uncertainty surrounding the potential asset divestitures"
    ** 2 of 3 brokerages rate the stock "buy" or higher and 1
"hold"; Median PT is $45
    ** Including session's loss, SCSC has fallen ~14% so far
this year 

 (Reporting by Sayanti Chakraborty in Bengaluru)