ScanSource Inc. (NASDAQ:SCSC) – Northcoast Research decreased their Q4 2017 earnings estimates for ScanSource in a report issued on Tuesday. Northcoast Research analyst K. Housum now anticipates that the firm will post earnings per share of $0.81 for the quarter, down from their prior forecast of $0.82.
ScanSource (NASDAQ:SCSC) last announced its earnings results on Monday, August 29th. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.20. The business had revenue of $887.50 million for the quarter. ScanSource had a return on equity of 9.47% and a net margin of 1.80%. ScanSource’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share.
A number of other research analysts also recently issued reports on the company. Raymond James Financial Inc. dropped their price target on ScanSource from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 30th. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd.
Shares of ScanSource (NASDAQ:SCSC) traded down 0.11% on Thursday, hitting $37.12. The stock had a trading volume of 53,301 shares. ScanSource has a one year low of $27.46 and a one year high of $43.49. The firm’s 50-day moving average is $37.45 and its 200-day moving average is $39.10. The company has a market cap of $951.20 million, a price-to-earnings ratio of 15.60 and a beta of 1.24.
Several hedge funds have recently bought and sold shares of SCSC. BlackRock Inc. boosted its stake in ScanSource by 202.1% in the first quarter. BlackRock Inc. now owns 2,891 shares of the company’s stock valued at $116,000 after buying an additional 1,934 shares in 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 valued at $121,000 after buying an additional 109 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of ScanSource during the second quarter valued at 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 valued at $139,000 after buying an additional 447 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new position in shares of ScanSource during the second quarter valued at about $186,000. 96.91% of the stock is owned by institutional investors and hedge funds.
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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