Patterson Companies, Inc. (NASDAQ:PDCO) – Stock analysts at Gabelli issued their FY2023 earnings per share (EPS) estimates for shares of Patterson Companies in a research report issued to clients and investors on Friday, June 22nd. Gabelli analyst K. Kedra forecasts that the company will post earnings per share of $2.80 for the year.
A number of other equities analysts also recently weighed in on the company. BidaskClub downgraded Patterson Companies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 4th. ValuEngine downgraded Patterson Companies from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Robert W. Baird downgraded Patterson Companies from an “outperform” rating to a “neutral” rating in a research note on Thursday, March 1st. Bank of America dropped their price objective on Patterson Companies from $22.00 to $20.00 and set an “underperform” rating on the stock in a research note on Tuesday, May 29th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $24.00 price objective on shares of Patterson Companies in a research note on Wednesday, April 4th. Seven research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Patterson Companies has an average rating of “Hold” and a consensus price target of $31.78.
Shares of NASDAQ PDCO opened at $24.12 on Monday. Patterson Companies has a twelve month low of $20.57 and a twelve month high of $48.29. The company has a market capitalization of $2.33 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The company has a current ratio of 1.95, a quick ratio of 1.00 and a debt-to-equity ratio of 0.63.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, June 21st. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Patterson Companies had a return on equity of 11.05% and a net margin of 3.68%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue was down 3.1% compared to the same quarter last year.
Patterson Companies announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 13th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 13th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $1.04 dividend on an annualized basis and a yield of 4.31%. Patterson Companies’s payout ratio is 61.90%.
A number of hedge funds have recently modified their holdings of PDCO. California Public Employees Retirement System raised its holdings in Patterson Companies by 8.0% during the 4th quarter. California Public Employees Retirement System now owns 293,629 shares of the company’s stock valued at $10,609,000 after acquiring an additional 21,682 shares during the period. Advisory Services Network LLC raised its holdings in Patterson Companies by 346.8% during the 4th quarter. Advisory Services Network LLC now owns 3,454 shares of the company’s stock valued at $125,000 after acquiring an additional 2,681 shares during the period. First Allied Advisory Services Inc. bought a new stake in Patterson Companies during the 4th quarter valued at $306,000. State of Wisconsin Investment Board raised its holdings in Patterson Companies by 22.6% during the 4th quarter. State of Wisconsin Investment Board now owns 79,281 shares of the company’s stock valued at $2,864,000 after acquiring an additional 14,607 shares during the period. Finally, Pinebridge Investments L.P. bought a new stake in Patterson Companies during the 4th quarter valued at $991,000. 90.27% of the stock is currently owned by institutional investors and hedge funds.
Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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