ScanSource Upgraded by TheStreet to “Buy” (SCSC)
The analysts wrote, “ScanSource (SCSC) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
ScanSource (NASDAQ:SCSC) traded down 1.23% on Tuesday, hitting $37.81. 94,698 shares of the company’s stock traded hands. ScanSource has a 52-week low of $30.60 and a 52-week high of $43.65. The stock’s 50-day moving average is $37.49 and its 200-day moving average is $38.96. The company has a market cap of $1.078 billion and a P/E ratio of 26.27.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $683.00 million for the quarter, compared to the consensus estimate of $710.27 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that ScanSource will post $2.50 earnings per share for the current fiscal year.
ScanSource, Inc is a wholesale distributor of specialty technology products, providing distribution sales to resellers in the specialty technology markets.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.