Brokers Offer Predictions for ScanSource Inc.’s Q3 2017 Earnings (SCSC)
ScanSource Inc. (NASDAQ:SCSC) – Equities researchers at Northcoast Research boosted their Q3 2017 earnings per share estimates for ScanSource in a research report issued on Tuesday. Northcoast Research analyst K. Housum now anticipates that the firm will earn $0.73 per share for the quarter, up from their previous forecast of $0.72. Northcoast Research also issued estimates for ScanSource’s Q4 2017 earnings at $0.82 EPS.
A number of other analysts have also commented on SCSC. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Raymond James Financial Inc. lowered their price objective on ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, August 30th. Finally, TheStreet lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th.
ScanSource (NASDAQ:SCSC) opened at 35.65 on Friday. The company’s 50-day moving average is $35.69 and its 200 day moving average is $38.19. ScanSource has a 12 month low of $27.46 and a 12 month high of $43.49. The company has a market cap of $913.53 million, a price-to-earnings ratio of 14.98 and a beta of 1.15.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business earned $932.60 million during the quarter, compared to analyst estimates of $892.46 million. ScanSource had a net margin of 1.73% and a return on equity of 9.26%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position 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 during the last quarter. PineBridge Investments L.P. raised its position in 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 during the last quarter. Pacad Investment Ltd. bought a new position in ScanSource during the second quarter valued at about $122,000. Teacher Retirement System of Texas raised its position in 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 during the last quarter. Finally, Mason Street Advisors LLC bought a new position in ScanSource during the second quarter valued at about $186,000. Institutional investors own 98.67% 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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