ScanSource, Inc. (NASDAQ:SCSC) – Investment analysts at Northcoast Research issued their Q3 2018 earnings per share estimates for shares of ScanSource in a report issued on Monday, Zacks Investment Research reports. Northcoast Research analyst K. Housum forecasts that the industrial products company will post earnings per share of $0.77 for the quarter.
ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, February 7th. The industrial products company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. ScanSource had a return on equity of 8.56% and a net margin of 1.85%. The firm had revenue of $904.80 million for the quarter, compared to analysts’ expectations of $962.57 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis.
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Other research analysts have also issued reports about the company. FinTrust Advisors lowered ScanSource from a “buy” rating to a “hold” rating and raised their price target for the stock from $42.20 to $48.50 in a research report on Monday, February 20th. Zacks Investment Research lowered ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th.
Shares of ScanSource (NASDAQ:SCSC) opened at 40.10 on Thursday. The stock has a 50 day moving average price of $39.00 and a 200-day moving average price of $38.97. The stock has a market capitalization of $1.01 billion, a PE ratio of 16.00 and a beta of 1.18. ScanSource has a 1-year low of $29.05 and a 1-year high of $44.95.
In related news, CEO Michael L. Baur sold 50,000 shares of ScanSource stock in a transaction on Friday, March 17th. The stock was sold at an average price of $40.21, for a total value of $2,010,500.00. Following the completion of the transaction, the chief executive officer now directly owns 51,572 shares in the company, valued at $2,073,710.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Grainger sold 2,900 shares of ScanSource stock in a transaction on Friday, February 17th. The shares were sold at an average price of $43.15, for a total value of $125,135.00. Following the completion of the transaction, the director now owns 10,400 shares of the company’s stock, valued at $448,760. The disclosure for this sale can be found here. Company insiders own 3.03% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in 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 worth $109,000 after buying an additional 20 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in ScanSource by 33.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,856 shares of the industrial products company’s stock worth $156,000 after buying an additional 973 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in ScanSource during the fourth quarter worth $174,000. Princeton Alpha Management LP acquired a new stake in ScanSource during the third quarter worth $279,000. Finally, Aperio Group LLC boosted its stake in ScanSource by 7.4% in the third quarter. Aperio Group LLC now owns 7,819 shares of the industrial products company’s stock worth $285,000 after buying an additional 539 shares in the last quarter. Institutional investors own 98.93% 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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