ScanSource Inc. (SCSC) Trading 3.6% Higher
Shares of ScanSource Inc. (NASDAQ:SCSC) traded up 3.6% during mid-day trading on Thursday . The company traded as high as $35.47 and last traded at $35.44, with a volume of 81,967 shares trading hands. The stock had previously closed at $34.21.
A number of analysts have issued reports on the stock. Zacks Investment Research cut shares of ScanSource from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Raymond James Financial Inc. reduced their target price on shares of ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday.
The stock has a 50-day moving average of $41.11 and a 200 day moving average of $39.48. The company has a market cap of $918.48 million and a price-to-earnings ratio of 14.63.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data 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. The business earned $887.50 million during the quarter. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. Analysts forecast that ScanSource Inc. will post $2.89 earnings per share for the current year.
In other ScanSource news, Director John Patrick Reilly sold 10,000 shares of the stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $38.84, for a total transaction of $388,400.00. Following the transaction, the director now owns 19,000 shares in the company, valued at approximately $737,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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