The Q4 2017 EPS Estimates for ScanSource Inc. (SCSC) Reduced by Northcoast Research

The Q4 2017 EPS Estimates for ScanSource Inc. (SCSC) Reduced by Northcoast Research

ScanSource Inc. (NASDAQ:SCSC) – Northcoast Research decreased their Q4 2017 earnings estimates for ScanSource in a report issued on Tuesday. Northcoast Research analyst K. Housum now anticipates that the firm will post earnings per share of $0.81 for the quarter, down from their prior forecast of $0.82.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Monday, August 29th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.71 by $0.20. ScanSource had a net margin of 1.80% and a return on equity of 9.47%. The company earned $887.50 million during the quarter. During the same quarter in the prior year, the business earned $0.66 EPS. The company’s revenue was up 3.6% on a year-over-year basis.

SCSC has been the subject of a number of other research reports. Raymond James Financial Inc. reduced their price target on ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, August 30th. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd.

Shares of ScanSource (NASDAQ:SCSC) traded down 0.81% on Thursday, hitting $36.80. The company’s stock had a trading volume of 100,289 shares. ScanSource has a 1-year low of $27.46 and a 1-year high of $43.49. The company has a 50 day moving average of $37.15 and a 200 day moving average of $39.07. The firm has a market cap of $943.00 million, a PE ratio of 15.46 and a beta of 1.24.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. boosted its stake in shares of ScanSource by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 704,109 shares of the company’s stock valued at $28,432,000 after buying an additional 2,039 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of ScanSource by 12.1% in the first quarter. BlackRock Group LTD now owns 47,542 shares of the company’s stock valued at $1,920,000 after buying an additional 5,124 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of ScanSource by 5.0% in the first quarter. Wellington Management Group LLP now owns 2,159,054 shares of the company’s stock valued at $87,183,000 after buying an additional 103,023 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of ScanSource by 0.7% in the second quarter. Blair William & Co. IL now owns 6,908 shares of the company’s stock valued at $256,000 after buying an additional 50 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of ScanSource by 32.3% in the first quarter. JPMorgan Chase & Co. now owns 68,331 shares of the company’s stock valued at $2,759,000 after buying an additional 16,698 shares during the last quarter. 96.91% of the stock is owned by hedge funds and other institutional investors.

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