Wall Street brokerages predict that Patterson Companies, Inc. (NASDAQ:PDCO) will post earnings of $0.51 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Patterson Companies’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.48. Patterson Companies posted earnings of $0.58 per share during the same quarter last year, which would suggest a negative year over year growth rate of 12.1%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, March 1st.
On average, analysts expect that Patterson Companies will report full-year earnings of $2.11 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.19. For the next financial year, analysts expect that the firm will post earnings of $2.37 per share, with EPS estimates ranging from $2.18 to $2.55. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. Patterson Companies’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share.
Several research firms have recently issued reports on PDCO. BidaskClub lowered Patterson Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. lowered Patterson Companies from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $40.00 to $36.00 in a research report on Thursday, February 15th. Evercore ISI began coverage on Patterson Companies in a research report on Thursday, January 4th. They set an “in-line” rating and a $38.50 target price for the company. Robert W. Baird restated a “buy” rating and set a $40.00 target price on shares of Patterson Companies in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Patterson Companies currently has a consensus rating of “Hold” and a consensus price target of $39.96.
Patterson Companies (NASDAQ:PDCO) traded up $0.75 during trading on Friday, hitting $31.75. The stock had a trading volume of 1,930,000 shares, compared to its average volume of 1,431,083. The firm has a market cap of $3,010.66, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.77 and a beta of 0.89. Patterson Companies has a 52 week low of $28.77 and a 52 week high of $48.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Thursday, January 11th. Patterson Companies’s dividend payout ratio (DPR) is presently 62.28%.
In other news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $36.38, for a total transaction of $27,285.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John D. Buck acquired 2,834 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were acquired at an average price of $34.93 per share, for a total transaction of $98,991.62. Following the acquisition, the director now directly owns 54,627 shares in the company, valued at $1,908,121.11. The disclosure for this purchase can be found here. Insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Patterson Companies by 6.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,182,834 shares of the company’s stock valued at $187,255,000 after acquiring an additional 304,402 shares in the last quarter. Fairpointe Capital LLC lifted its stake in Patterson Companies by 5.7% in the 4th quarter. Fairpointe Capital LLC now owns 3,974,188 shares of the company’s stock valued at $143,588,000 after acquiring an additional 213,341 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Patterson Companies by 70.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,681,338 shares of the company’s stock valued at $60,747,000 after acquiring an additional 696,540 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Patterson Companies by 0.6% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,625,632 shares of the company’s stock valued at $62,831,000 after acquiring an additional 9,343 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Patterson Companies by 46.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,544,632 shares of the company’s stock valued at $55,808,000 after acquiring an additional 492,936 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
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About Patterson Companies
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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