FY2017 EPS Estimates for Patterson Cos. (PDCO) Lifted by Northcoast Research
Patterson Cos. (NASDAQ:PDCO) – Analysts at Northcoast Research raised their FY2017 earnings estimates for Patterson Cos. in a research report issued to clients and investors on Tuesday. Northcoast Research analyst E. Snyder now expects that the brokerage will post earnings per share of $2.66 for the year, up from their prior forecast of $2.65. Northcoast Research also issued estimates for Patterson Cos.’s FY2018 earnings at $2.98 EPS.
A number of other brokerages also recently issued reports on PDCO. Jefferies Group reissued a “hold” rating on shares of Patterson Cos. in a research report on Thursday, August 4th. Off Wall Street started coverage on Patterson Cos. in a research report on Monday, August 8th. They set a “sell” rating for the company. Zacks Investment Research raised Patterson Cos. from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. TheStreet downgraded Patterson Cos. from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Finally, Bank of America Corp. started coverage on Patterson Cos. in a research report on Wednesday, August 24th. They set an “underperform” rating and a $44.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Patterson Cos. currently has a consensus rating of “Hold” and an average price target of $48.40.
Shares of Patterson Cos. (NASDAQ:PDCO) traded down 0.44% during trading on Thursday, hitting $45.30. 1,138,884 shares of the company traded hands. The stock has a market capitalization of $4.32 billion, a PE ratio of 22.34 and a beta of 0.94. The company has a 50-day moving average of $45.97 and a 200-day moving average of $46.60. Patterson Cos. has a 52-week low of $38.51 and a 52-week high of $50.40.
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Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.51 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The business earned $1.32 billion during the quarter, compared to analyst estimates of $1.35 billion. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share.
Institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock worth $113,000 after buying an additional 12 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Patterson Cos. by 0.3% in the second quarter. State of Alaska Department of Revenue now owns 19,811 shares of the company’s stock worth $948,000 after buying an additional 54 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Patterson Cos. by 0.3% in the second quarter. State Treasurer State of Michigan now owns 28,890 shares of the company’s stock worth $1,384,000 after buying an additional 100 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Patterson Cos. by 1.3% in the second quarter. CIBC Asset Management Inc now owns 14,198 shares of the company’s stock worth $680,000 after buying an additional 183 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Patterson Cos. by 1.9% in the second quarter. ProShare Advisors LLC now owns 10,134 shares of the company’s stock worth $485,000 after buying an additional 191 shares in the last quarter. 77.29% of the stock is owned by institutional investors and hedge funds.
In other news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $46.22, for a total transaction of $34,665.00. Following the completion of the transaction, the insider now directly owns 40,153 shares of the company’s stock, valued at $1,855,871.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, October 12th. Patterson Cos.’s dividend payout ratio is presently 47.29%.
Patterson Cos. Company Profile
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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