Equities analysts forecast that Patterson Companies, Inc. (NASDAQ:PDCO) will announce sales of $1.40 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Patterson Companies’ earnings, with the highest sales estimate coming in at $1.42 billion and the lowest estimate coming in at $1.38 billion. Patterson Companies reported sales of $1.38 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 1.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, March 7th.
According to Zacks, analysts expect that Patterson Companies will report full-year sales of $5.59 billion for the current fiscal year, with estimates ranging from $5.50 billion to $5.67 billion. For the next financial year, analysts expect that the company will post sales of $5.75 billion, with estimates ranging from $5.62 billion to $5.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Patterson Companies had a return on equity of 8.78% and a net margin of 2.80%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 1.4% compared to the same quarter last year.
Several equities research analysts have recently issued reports on PDCO shares. Zacks Investment Research lowered Patterson Companies from a “buy” rating to a “sell” rating in a research report on Monday, August 27th. ValuEngine raised Patterson Companies from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. Barclays decreased their target price on Patterson Companies from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, August 31st. Goldman Sachs Group assumed coverage on Patterson Companies in a research report on Friday, October 19th. They set a “sell” rating and a $19.00 target price for the company. Finally, BidaskClub downgraded Patterson Companies from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Patterson Companies presently has a consensus rating of “Hold” and an average price target of $23.54.
Several hedge funds have recently bought and sold shares of PDCO. New England Asset Management Inc. bought a new position in shares of Patterson Companies during the 2nd quarter worth $149,000. Tyers Asset Management LLC boosted its stake in Patterson Companies by 58.0% in the 2nd quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock worth $150,000 after purchasing an additional 2,432 shares during the period. Tower Research Capital LLC TRC boosted its stake in Patterson Companies by 542.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,125 shares of the company’s stock worth $150,000 after purchasing an additional 5,171 shares during the period. Riverhead Capital Management LLC boosted its stake in Patterson Companies by 62.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,300 shares of the company’s stock worth $165,000 after purchasing an additional 2,800 shares during the period. Finally, Sapphire Star Partners LP bought a new position in Patterson Companies in the 3rd quarter worth about $171,000.
Shares of Patterson Companies stock traded down $0.22 during trading hours on Tuesday, hitting $22.87. 2,504,846 shares of the company’s stock traded hands, compared to its average volume of 1,649,533. Patterson Companies has a 12-month low of $20.22 and a 12-month high of $38.52. The firm has a market cap of $2.17 billion, a PE ratio of 13.61, a P/E/G ratio of 3.15 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 0.87.
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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