ScanSource Inc. (NASDAQ:SCSC) – Research analysts at Northcoast Research decreased their Q3 2017 earnings per share (EPS) estimates for ScanSource in a report issued on Tuesday. Northcoast Research analyst K. Housum now forecasts that the brokerage will post earnings of $0.72 per share for the quarter, down from their prior estimate of $0.74. Northcoast Research also issued estimates for ScanSource’s FY2017 earnings at $3.05 EPS and FY2018 earnings at $3.31 EPS.
SCSC has been the subject of a number of other research reports. Raymond James Financial Inc. lowered their price target on shares of ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, August 30th. Zacks Investment Research raised shares of ScanSource from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd.
Shares of ScanSource (NASDAQ:SCSC) traded up 0.7573% during mid-day trading on Wednesday, reaching $37.2399. 28,412 shares of the company’s stock traded hands. The company’s 50 day moving average is $37.60 and its 200-day moving average is $39.12. ScanSource has a 52 week low of $27.46 and a 52 week high of $43.49. The firm has a market cap of $954.27 million, a price-to-earnings ratio of 15.6470 and a beta of 1.24.
ScanSource (NASDAQ:SCSC) last announced its earnings results on Monday, August 29th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.20. ScanSource had a net margin of 1.80% and a return on equity of 9.47%. The firm had revenue of $887.50 million for the quarter. During the same quarter in the prior year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in SCSC. BlackRock Inc. boosted its position in shares of ScanSource by 202.1% in the first quarter. BlackRock Inc. now owns 2,891 shares of the company’s stock worth $116,000 after buying an additional 1,934 shares during the last quarter. PineBridge Investments L.P. boosted its position in shares of ScanSource by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,255 shares of the company’s stock worth $121,000 after buying an additional 109 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of ScanSource during the second quarter worth about $122,000. Teacher Retirement System of Texas boosted its position in shares of ScanSource by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 3,740 shares of the company’s stock worth $139,000 after buying an additional 447 shares during the last quarter. Finally, Mason Street Advisors LLC acquired a new position in shares of ScanSource during the second quarter worth about $186,000. 96.91% of the stock is currently owned by hedge funds and other institutional investors.
ScanSource Company Profile
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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