$1.47 Billion in Sales Expected for Patterson Companies, Inc. (PDCO) This Quarter
Brokerages expect Patterson Companies, Inc. (NASDAQ:PDCO) to report sales of $1.47 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Patterson Companies’ earnings. The highest sales estimate is $1.52 billion and the lowest is $1.41 billion. Patterson Companies posted sales of $1.45 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, May 25th.
On average, analysts expect that Patterson Companies will report full-year sales of $1.47 billion for the current fiscal year, with estimates ranging from $5.56 billion to $5.66 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.77 billion per share, with estimates ranging from $5.63 billion to $5.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, February 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Patterson Companies had a net margin of 3.69% and a return on equity of 17.17%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Patterson Companies from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Jefferies Group LLC restated a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a research report on Monday, May 15th. Craig Hallum assumed coverage on Patterson Companies in a research report on Tuesday, April 11th. They issued a “hold” rating for the company. Deutsche Bank AG assumed coverage on Patterson Companies in a research report on Wednesday, March 15th. They issued a “hold” rating and a $45.00 price target for the company. Finally, Evercore ISI cut Patterson Companies from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $43.63.
Shares of Patterson Companies (NASDAQ:PDCO) opened at 42.79 on Friday. The firm has a market cap of $4.05 billion, a PE ratio of 23.49 and a beta of 0.87. The firm’s 50-day moving average is $44.11 and its 200 day moving average is $43.29. Patterson Companies has a 52 week low of $36.46 and a 52 week high of $50.40.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 14th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Tuesday, April 11th. This is a boost from Patterson Companies’s previous quarterly dividend of $0.24. Patterson Companies’s dividend payout ratio (DPR) is currently 44.65%.
In related news, Director James W. Wiltz sold 40,000 shares of Patterson Companies stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $45.29, for a total transaction of $1,811,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen A. Rudnick sold 3,000 shares of Patterson Companies stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.70, for a total value of $137,100.00. Following the sale, the director now owns 42,235 shares of the company’s stock, valued at approximately $1,930,139.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,000 shares of company stock valued at $2,627,800. 0.46% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Parnassus Investments CA boosted its stake in Patterson Companies by 6.1% in the first quarter. Parnassus Investments CA now owns 8,396,864 shares of the company’s stock worth $370,312,000 after buying an additional 481,947 shares in the last quarter. Vanguard Group Inc. boosted its stake in Patterson Companies by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,204,738 shares of the company’s stock worth $371,100,000 after buying an additional 214,691 shares in the last quarter. BlackRock Inc. boosted its stake in Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock worth $303,760,000 after buying an additional 6,491,048 shares in the last quarter. State Street Corp boosted its stake in Patterson Companies by 1.8% in the first quarter. State Street Corp now owns 4,180,364 shares of the company’s stock worth $189,078,000 after buying an additional 75,261 shares in the last quarter. Finally, Fairpointe Capital LLC boosted its stake in Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock worth $158,044,000 after buying an additional 713,773 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.
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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