William Blair Weighs in on Patterson Companies, Inc.’s Q2 2018 Earnings (PDCO)
Patterson Companies, Inc. (NASDAQ:PDCO) – Investment analysts at William Blair dropped their Q2 2018 earnings estimates for Patterson Companies in a report released on Sunday. William Blair analyst J. Kreger now forecasts that the company will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.57. William Blair also issued estimates for Patterson Companies’ Q3 2018 earnings at $0.57 EPS and Q4 2018 earnings at $0.73 EPS.
A number of other equities analysts also recently commented on the company. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Piper Jaffray Companies began coverage on Patterson Companies in a report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price objective on the stock. Robert W. Baird restated a “buy” rating and issued a $44.00 price objective on shares of Patterson Companies in a report on Tuesday, September 26th. Morgan Stanley began coverage on Patterson Companies in a report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 price objective on the stock. Finally, Royal Bank Of Canada began coverage on Patterson Companies in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $42.00 price objective on the stock. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $41.64.
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Patterson Companies (NASDAQ PDCO) traded down 2.689% during midday trading on Wednesday, reaching $36.005. 871,460 shares of the company were exchanged. Patterson Companies has a 52-week low of $35.93 and a 52-week high of $49.26. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 20.921 and a beta of 0.97. The firm’s 50-day moving average price is $38.23 and its 200 day moving average price is $41.68.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. Patterson Companies’s revenue was down 1.4% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.04 annualized dividend and a yield of 2.81%. Patterson Companies’s dividend payout ratio (DPR) is presently 60.47%.
In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Patterson Companies by 2,886.7% during the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock valued at $303,760,000 after purchasing an additional 6,491,048 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Patterson Companies by 1.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,616,289 shares of the company’s stock valued at $75,885,000 after purchasing an additional 28,000 shares during the last quarter. Shapiro Capital Management LLC grew its holdings in Patterson Companies by 7.4% during the second quarter. Shapiro Capital Management LLC now owns 1,539,410 shares of the company’s stock valued at $72,275,000 after purchasing an additional 105,950 shares during the last quarter. FMR LLC grew its holdings in Patterson Companies by 5.7% during the second quarter. FMR LLC now owns 1,400,718 shares of the company’s stock valued at $65,763,000 after purchasing an additional 75,354 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Patterson Companies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,077,397 shares of the company’s stock valued at $50,586,000 after purchasing an additional 64,073 shares during the last quarter. Institutional investors own 88.90% 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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