ScanSource, Inc. (NASDAQ:SCSC) – Equities research analysts at Northcoast Research increased their FY2018 earnings estimates for ScanSource in a research note issued on Wednesday. Northcoast Research analyst K. Housum now forecasts that the industrial products company will post earnings per share of $3.24 for the year, up from their previous estimate of $3.22.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.10. ScanSource had a return on equity of 9.06% and a net margin of 1.18%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $965.15 million. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year.

A number of other brokerages have also issued reports on SCSC. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. ValuEngine lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. 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 and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $43.25.

Shares of ScanSource (NASDAQ SCSC) traded down $1.25 during midday trading on Thursday, hitting $32.25. The stock had a trading volume of 159,153 shares, compared to its average volume of 92,049. ScanSource has a twelve month low of $31.40 and a twelve month high of $45.35. The stock has a market capitalization of $856.64, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 3.61 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 2.15.

Several hedge funds and other institutional investors have recently made changes to their positions in SCSC. BlackRock Inc. grew its stake in ScanSource by 3.4% in the fourth quarter. BlackRock Inc. now owns 3,242,376 shares of the industrial products company’s stock worth $116,078,000 after purchasing an additional 107,368 shares in the last quarter. Vanguard Group Inc. grew its stake in ScanSource by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,326,600 shares of the industrial products company’s stock worth $93,763,000 after purchasing an additional 26,629 shares in the last quarter. Pzena Investment Management LLC grew its stake in ScanSource by 1.3% in the fourth quarter. Pzena Investment Management LLC now owns 1,335,617 shares of the industrial products company’s stock worth $47,815,000 after purchasing an additional 17,689 shares in the last quarter. LSV Asset Management grew its stake in ScanSource by 1.1% in the fourth quarter. LSV Asset Management now owns 902,910 shares of the industrial products company’s stock worth $32,324,000 after purchasing an additional 10,183 shares in the last quarter. Finally, State Street Corp grew its stake in ScanSource by 3.6% in the second quarter. State Street Corp now owns 674,361 shares of the industrial products company’s stock worth $27,177,000 after purchasing an additional 23,694 shares in the last quarter. 94.79% of the stock is currently owned by institutional investors and hedge funds.

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About ScanSource

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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