ScanSource Inc. Expected to Earn Q3 2017 Earnings of $0.72 Per Share (SCSC)
ScanSource Inc. (NASDAQ:SCSC) – Equities research analysts at Northcoast Research dropped their Q3 2017 EPS estimates for shares of ScanSource in a report issued on Tuesday. Northcoast Research analyst K. Housum now forecasts that the brokerage will post earnings per share of $0.72 for the quarter, down from their prior forecast of $0.74. Northcoast Research also issued estimates for ScanSource’s FY2017 earnings at $3.05 EPS and FY2018 earnings at $3.31 EPS.
A number of other research analysts also recently commented on SCSC. Zacks Investment Research downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Raymond James Financial Inc. decreased their price objective on shares of ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, August 30th.
Shares of ScanSource (NASDAQ:SCSC) opened at 36.87 on Wednesday. The company has a 50-day moving average of $37.31 and a 200-day moving average of $39.09. ScanSource has a 1-year low of $27.46 and a 1-year high of $43.49. The company has a market cap of $944.79 million, a PE ratio of 15.49 and a beta of 1.24.
ScanSource (NASDAQ:SCSC) last posted its earnings results on Monday, August 29th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.20. The business earned $887.50 million during the quarter. ScanSource had a net margin of 1.80% and a return on equity of 9.47%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share.
Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in ScanSource during the fourth quarter worth about $8,981,000. Aperio Group LLC bought a new stake in ScanSource during the first quarter worth about $291,000. Nisa Investment Advisors L.L.C. boosted its stake in ScanSource by 61.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,800 shares of the company’s stock worth $678,000 after buying an additional 6,400 shares in the last quarter. Virginia Retirement System bought a new stake in ScanSource during the first quarter worth about $650,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in ScanSource by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,131 shares of the company’s stock worth $894,000 after buying an additional 125 shares in the last quarter. Institutional investors own 96.91% of the company’s stock.
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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