$0.45 EPS Expected for Patterson Companies, Inc. (PDCO) This Quarter
Brokerages expect Patterson Companies, Inc. (NASDAQ:PDCO) to post $0.45 earnings per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Patterson Companies’ earnings. The highest EPS estimate is $0.51 and the lowest is $0.40. Patterson Companies reported earnings per share of $0.51 in the same quarter last year, which suggests a negative year-over-year growth rate of 11.8%. The company is expected to issue its next quarterly earnings results 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 an average based on a survey of research analysts that that provide coverage for Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis.
A number of research analysts have recently commented on PDCO shares. Credit Suisse Group reissued a “hold” rating and set a $45.00 price objective on shares of Patterson Companies in a report on Wednesday, March 1st. Jefferies Group LLC reissued a “hold” rating and set a $40.00 price objective on shares of Patterson Companies in a report on Wednesday, March 29th. Zacks Investment Research lowered Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Craig Hallum started coverage on Patterson Companies in a report on Tuesday, April 11th. They set a “hold” rating on the stock. Finally, Evercore ISI lowered Patterson Companies from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Three investment 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 company has an average rating of “Hold” and an average price target of $43.63.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in PDCO. SFE Investment Counsel increased its stake in shares of Patterson Companies by 18.1% in the first quarter. SFE Investment Counsel now owns 62,650 shares of the company’s stock worth $2,834,000 after buying an additional 9,595 shares in the last quarter. Cipher Capital LP purchased a new stake in shares of Patterson Companies during the first quarter worth approximately $1,575,000. Dimensional Fund Advisors LP increased its stake in shares of Patterson Companies by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 926,706 shares of the company’s stock worth $38,023,000 after buying an additional 83,978 shares in the last quarter. Fenimore Asset Management Inc. increased its stake in shares of Patterson Companies by 0.6% in the first quarter. Fenimore Asset Management Inc. now owns 996,115 shares of the company’s stock worth $45,054,000 after buying an additional 6,350 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Patterson Companies by 16.7% in the fourth quarter. Macquarie Group Ltd. now owns 103,674 shares of the company’s stock worth $4,253,000 after buying an additional 14,800 shares in the last quarter. Institutional investors own 89.69% of the company’s stock.
Shares of Patterson Companies (NASDAQ:PDCO) traded down 0.47% during mid-day trading on Thursday, hitting $46.51. The stock had a trading volume of 94,308 shares. The company has a 50-day moving average of $44.67 and a 200 day moving average of $43.25. Patterson Companies has a one year low of $36.46 and a one year high of $50.10. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 25.98 and a beta of 0.98.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be given a $0.26 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.23%. Patterson Companies’s dividend payout ratio is currently 58.10%.
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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