Q2 2017 EPS Estimates for ScanSource Inc. Decreased by Northcoast Research (SCSC)
ScanSource Inc. (NASDAQ:SCSC) – Northcoast Research cut their Q2 2017 earnings per share estimates for ScanSource in a research note issued to investors on Tuesday. Northcoast Research analyst K. Housum now anticipates that the firm will post earnings per share of $0.72 for the quarter, down from their prior forecast of $0.87. Northcoast Research also issued estimates for ScanSource’s FY2017 earnings at $2.94 EPS.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. ScanSource had a return on equity of 9.29% and a net margin of 1.73%. The company had revenue of $932.60 million for the quarter, compared to the consensus estimate of $892.46 million. During the same quarter in the prior year, the business earned $0.68 EPS. ScanSource’s revenue was up 7.1% on a year-over-year basis.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a report on Thursday. TheStreet cut ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James Financial Inc. decreased their price objective on ScanSource from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, August 30th.
ScanSource (NASDAQ:SCSC) opened at 32.50 on Wednesday. The stock has a market cap of $832.81 million, a P/E ratio of 13.66 and a beta of 1.15. The stock has a 50 day moving average price of $35.77 and a 200-day moving average price of $38.26. ScanSource has a 12-month low of $27.46 and a 12-month high of $43.49.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Blair William & Co. IL boosted its position in shares of ScanSource by 0.7% in the second quarter. Blair William & Co. IL now owns 6,908 shares of the company’s stock worth $256,000 after buying an additional 50 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of ScanSource by 0.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,080 shares of the company’s stock worth $441,000 after buying an additional 90 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 worth $121,000 after buying an additional 109 shares in the last quarter. AMG National Trust Bank boosted its position in shares of ScanSource by 1.3% in the third quarter. AMG National Trust Bank now owns 13,910 shares of the company’s stock worth $508,000 after buying an additional 174 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of ScanSource by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 85,343 shares of the company’s stock worth $3,167,000 after buying an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 98.67% 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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