ScanSource Inc. (NASDAQ:SCSC) – Stock analysts at Northcoast Research lowered their Q3 2017 EPS estimates for shares of ScanSource in a report issued on Tuesday. Northcoast Research analyst K. Housum now forecasts that the firm will post earnings per share of $0.72 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.
Several other research analysts have also recently issued reports on SCSC. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Raymond James Financial Inc. reduced their price objective on ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, August 30th.
Shares of ScanSource (NASDAQ:SCSC) opened at 36.87 on Wednesday. The stock has a market capitalization of $944.79 million, a PE ratio of 15.49 and a beta of 1.24. The stock’s 50 day moving average price is $37.31 and its 200 day moving average price is $39.09. ScanSource has a one year low of $27.46 and a one year high of $43.49.
ScanSource (NASDAQ:SCSC) last posted its quarterly 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 earned $887.50 million during 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% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in SCSC. UBS Group AG boosted its position in shares of ScanSource by 51.7% in the first quarter. UBS Group AG now owns 21,269 shares of the company’s stock valued at $858,000 after buying an additional 7,245 shares in the last quarter. Huntington Asset Advisors Inc. bought a new position in shares of ScanSource during the first quarter valued at $525,000. JPMorgan Chase & Co. boosted its position in shares of ScanSource by 32.3% in the first quarter. JPMorgan Chase & Co. now owns 68,331 shares of the company’s stock valued at $2,759,000 after buying an additional 16,698 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of ScanSource by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 704,109 shares of the company’s stock valued at $28,432,000 after buying an additional 2,039 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of ScanSource by 12.1% in the first quarter. BlackRock Group LTD now owns 47,542 shares of the company’s stock valued at $1,920,000 after buying an additional 5,124 shares in the last quarter. Institutional investors own 96.91% of the company’s stock.
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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