Brokers Offer Predictions for ScanSource, Inc.’s Q2 2018 Earnings (SCSC)
ScanSource, Inc. (NASDAQ:SCSC) – Stock analysts at Northcoast Research issued their Q2 2018 earnings per share estimates for ScanSource in a report released on Thursday. Northcoast Research analyst K. Housum forecasts that the industrial products company will post earnings per share of $0.84 for the quarter.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “sell” rating in a report on Saturday, May 13th. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.17.
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Shares of ScanSource (NASDAQ:SCSC) traded up 1.48% on Monday, hitting $37.75. 19,522 shares of the company’s stock were exchanged. ScanSource has a 12-month low of $29.05 and a 12-month high of $44.95. The company’s 50-day moving average price is $39.63 and its 200 day moving average price is $39.65. The stock has a market cap of $955.60 million, a price-to-earnings ratio of 15.32 and a beta of 1.16.
Several hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in shares of ScanSource by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after buying an additional 20 shares during the last quarter. Victory Capital Management Inc. increased its stake in ScanSource by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after buying an additional 446 shares in the last quarter. SG Americas Securities LLC increased its stake in ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $167,000 after buying an additional 14 shares in the last quarter. CHICAGO TRUST Co NA bought a new stake in ScanSource during the second quarter worth approximately $218,000. Finally, Piedmont Investment Advisors LLC bought a new stake in ScanSource during the second quarter worth approximately $221,000. 94.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Steven R. Fischer sold 5,000 shares of ScanSource stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $40.13, for a total value of $200,650.00. Following the sale, the director now owns 25,867 shares of the company’s stock, valued at $1,038,042.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael L. Baur sold 67,000 shares of ScanSource stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $39.07, for a total transaction of $2,617,690.00. Following the completion of the sale, the chief executive officer now directly owns 47,890 shares in the company, valued at approximately $1,871,062.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,000 shares of company stock worth $3,019,290. Insiders own 3.03% of the company’s stock.
ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
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