Wall Street brokerages predict that Patterson Companies, Inc. (NASDAQ:PDCO) will report earnings of $0.45 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Patterson Companies’ earnings, with estimates ranging from $0.40 to $0.51. Patterson Companies posted earnings of $0.51 per share in the same quarter last year, which suggests a negative year over year growth rate of 11.8%. The firm is expected to report its next quarterly earnings report on Thursday, August 24th.
According to Zacks, analysts expect that Patterson Companies will report full year earnings of $2.32 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.35. For the next fiscal year, analysts expect that the business will report earnings of $2.55 per share, with EPS estimates ranging from $2.46 to $2.66. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. Patterson Companies’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS.
A number of research firms have issued reports on PDCO. BidaskClub upgraded Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a research note on Monday, May 15th. Craig Hallum began coverage on Patterson Companies in a research note on Tuesday, April 11th. They issued a “hold” rating on the stock. Finally, Deutsche Bank AG began coverage on Patterson Companies in a research note on Wednesday, March 15th. They issued a “hold” rating and a $45.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.63.
Shares of Patterson Companies (NASDAQ PDCO) traded up 1.21% during trading on Thursday, reaching $47.80. 686,454 shares of the company’s stock were exchanged. The company’s 50-day moving average is $44.87 and its 200 day moving average is $43.46. The stock has a market capitalization of $4.49 billion, a PE ratio of 26.70 and a beta of 0.98. Patterson Companies has a 52 week low of $36.46 and a 52 week high of $50.05.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Wednesday, July 12th. Patterson Companies’s dividend payout ratio is currently 58.10%.
In related news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Patterson Companies by 27.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 500 shares in the last quarter. Invictus RG bought a new stake in shares of Patterson Companies during the first quarter worth $119,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock worth $139,000 after buying an additional 698 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares in the last quarter. Finally, ING Groep NV bought a new stake in shares of Patterson Companies during the fourth quarter worth $211,000. Institutional investors and hedge funds own 89.62% 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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