ScanSource (SCSC) Posts Quarterly Earnings Results, Beats Expectations By $0.35 EPS
ScanSource (NASDAQ:SCSC) announced its earnings results on Thursday. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.35, AmericanBankingNews.com reports. The company had revenue of $758.10 million for the quarter, compared to the consensus estimate of $740.03 million.
On the ratings front, analysts at TheStreet upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th.
Shares of ScanSource (NASDAQ:SCSC) traded up 2.53% during mid-day trading on Thursday, hitting $39.26. 89,172 shares of the company’s stock traded hands. ScanSource has a 1-year low of $30.60 and a 1-year high of $43.65. The stock’s 50-day moving average is $37.10 and its 200-day moving average is $38.02. The company has a market cap of $1.120 billion and a P/E ratio of 26.28.
ScanSource, Inc is a wholesale distributor of specialty technology products, providing distribution sales to resellers in the specialty technology markets.
Receive News & Ratings for ScanSource Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.