Q4 2017 EPS Estimates for ScanSource Inc. (SCSC) Reduced by Northcoast Research
ScanSource Inc. (NASDAQ:SCSC) – Equities research analysts at Northcoast Research cut their Q4 2017 earnings estimates for shares of ScanSource in a research report issued to clients and investors 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.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Raymond James Financial Inc. decreased their price target on shares of ScanSource from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 30th.
Shares of ScanSource (NASDAQ:SCSC) traded down 0.81% on Thursday, reaching $36.80. 100,289 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $37.15 and its 200 day moving average price is $39.07. The company has a market cap of $943.00 million, a price-to-earnings ratio of 15.46 and a beta of 1.24. ScanSource has a 12 month low of $27.46 and a 12 month high of $43.49.
ScanSource (NASDAQ:SCSC) last released its earnings results on Monday, August 29th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.20. ScanSource had a return on equity of 9.47% and a net margin of 1.80%. The firm had revenue of $887.50 million for the quarter. During the same quarter in the previous year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in the stock. 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 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 in 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 in 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 owned by hedge funds and other institutional investors.
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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