ScanSource, Inc. (NASDAQ:SCSC) – Stock analysts at Northcoast Research lifted their FY2018 EPS estimates for shares of ScanSource in a research note issued to investors on Wednesday. Northcoast Research analyst K. Housum now forecasts that the industrial products company will post earnings of $3.24 per share for the year, up from their previous forecast of $3.22.
A number of other research analysts have also issued reports on the company. Zacks Investment Research upgraded ScanSource from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday. ValuEngine lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Finally, TheStreet lowered ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.25.
ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.10. ScanSource had a return on equity of 9.14% and a net margin of 1.18%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $965.15 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of ScanSource in the 3rd quarter worth $202,000. Palouse Capital Management Inc. acquired a new stake in shares of ScanSource during the third quarter worth $226,000. Piedmont Investment Advisors LLC acquired a new stake in shares of ScanSource during the second quarter worth $221,000. Victory Capital Management Inc. raised its position in shares of ScanSource by 94.5% during the third quarter. Victory Capital Management Inc. now owns 5,785 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 2,811 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of ScanSource by 26.5% during the third quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 1,262 shares during the period. 94.79% of the stock is currently owned by institutional investors.
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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