$0.45 EPS Expected for Patterson Companies, Inc. (PDCO) This Quarter
Analysts expect Patterson Companies, Inc. (NASDAQ:PDCO) to announce earnings of $0.45 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Patterson Companies’ earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.40. Patterson Companies posted earnings per share of $0.51 in the same quarter last year, which indicates a negative year over year growth rate of 11.8%. The company is expected to announce its next earnings results on Thursday, August 24th.
On average, analysts expect that Patterson Companies will report full year earnings of $2.32 per share for the current year, with EPS estimates ranging from $2.29 to $2.35. For the next financial year, analysts forecast that the business will post earnings of $2.53 per share, with EPS estimates ranging from $2.41 to $2.66. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, topping the 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 the consensus estimate of $1.46 billion. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year.
PDCO has been the subject of a number of research analyst reports. Deutsche Bank AG initiated coverage on Patterson Companies in a report on Wednesday, March 15th. They set a “hold” rating and a $45.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a research report on Wednesday, March 29th. Craig Hallum assumed coverage on Patterson Companies in a research report on Tuesday, April 11th. They issued a “hold” rating on the stock. Zacks Investment Research raised Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, May 2nd. Finally, BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Five 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 stock. The company presently has an average rating of “Hold” and a consensus target price of $43.22.
Patterson Companies (NASDAQ:PDCO) traded down 1.11% during mid-day trading on Tuesday, hitting $43.51. The stock had a trading volume of 1,310,125 shares. The company has a market cap of $4.08 billion, a PE ratio of 24.31 and a beta of 0.97. Patterson Companies has a one year low of $36.46 and a one year high of $50.05. The firm’s 50-day moving average price is $45.60 and its 200 day moving average price is $43.86.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be issued 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 2.36%. Patterson Companies’s dividend payout ratio (DPR) is 58.10%.
In other news, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total value of $467,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total value of $32,872.50. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in 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 during the period. Invictus RG purchased a new stake in Patterson Companies during the first quarter worth about $119,000. Benjamin F. Edwards & Company Inc. increased its stake in 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 during the period. Nordea Investment Management AB increased its stake in 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 during the period. Finally, Ashfield Capital Partners LLC purchased a new stake in Patterson Companies during the first quarter worth about $213,000. 90.36% of the stock is owned by institutional investors and hedge funds.
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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