Patterson Companies Given Neutral Rating at Zacks (PDCO)
Patterson Companies (NASDAQ:PDCO)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday. They currently have a $43.00 target price on the stock. Zacks‘s price target indicates a potential upside of 5.57% from the stock’s previous close.
Zacks’ analyst wrote, “Patterson posted fiscal 2015-first quarter earnings per share of $0.48, up 6.7% from the year-ago quarter but fell shy of the Zacks Consensus Estimate by $0.02. Revenues grew 20.4% to $1,059.5 million, higher than the Zacks Consensus Estimate of $1,036 million. The company reiterated its EPS guidance in the range of $2.20-$2.30 for fiscal 2015. Dental revenues were soft due to lower dental equipment and software sales. Moreover, continued decline in operating margin concerns us. We remain cautious about intense competition, unfavorable currency fluctuations and an uncertain macro economy. As such, we reiterate our Neutral recommendation on Patterson with a price target of $43.00. “
Patterson Companies (NASDAQ:PDCO) traded down 0.17% on Friday, hitting $40.66. 273,961 shares of the company’s stock traded hands. Patterson Companies has a 52 week low of $36.59 and a 52 week high of $44.39. The stock’s 50-day moving average is $39.29 and its 200-day moving average is $40.26. The company has a market cap of $4.054 billion and a P/E ratio of 20.68.
Patterson Companies (NASDAQ:PDCO) last released its earnings data on Thursday, August 21st. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.50. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, analysts predict that Patterson Companies will post $2.26 earnings per share for the current fiscal year.
Patterson Companies, Inc (NASDAQ:PDCO) is a distributor serving three markets: the United States companion animal (dogs, cats and other common household pets) and equine veterinary supply, and the worldwide rehabilitation and assistive products supply market.
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