Patterson Companies, Inc. (PDCO) Expected to Announce Quarterly Sales of $1.42 Billion
Equities analysts expect Patterson Companies, Inc. (NASDAQ:PDCO) to post $1.42 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Patterson Companies’ earnings, with the lowest sales estimate coming in at $1.39 billion and the highest estimate coming in at $1.46 billion. Patterson Companies also reported sales of $1.42 billion during the same quarter last year. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 28th.
On average, analysts expect that Patterson Companies will report full year sales of $1.42 billion for the current financial year, with estimates ranging from $5.57 billion to $5.75 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.86 billion per share, with estimates ranging from $5.79 billion to $5.99 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, August 24th. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. Patterson Companies’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS.
Several research firms have commented on PDCO. UBS AG cut shares of Patterson Companies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $44.50 to $40.00 in a research note on Tuesday, July 11th. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 target price (up from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Piper Jaffray Companies assumed coverage on shares of Patterson Companies in a report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 target price for the company. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $41.64.
In related news, CFO Ann B. Gugino sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total transaction of $27,547.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jarislowsky Fraser Ltd raised its position in Patterson Companies by 0.3% during the second quarter. Jarislowsky Fraser Ltd now owns 14,321 shares of the company’s stock valued at $672,000 after acquiring an additional 42 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Patterson Companies by 0.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock valued at $476,000 after acquiring an additional 70 shares in the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in Patterson Companies by 0.6% during the second quarter. Lowe Brockenbrough & Co. Inc. now owns 12,475 shares of the company’s stock valued at $586,000 after acquiring an additional 70 shares in the last quarter. Meeder Asset Management Inc. raised its position in Patterson Companies by 0.6% during the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock valued at $956,000 after acquiring an additional 112 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Patterson Companies by 4.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock valued at $168,000 after acquiring an additional 150 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.
Patterson Companies (PDCO) opened at $36.15 on Monday. The company has a market cap of $3,462.30, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 2.01. Patterson Companies has a 52 week low of $35.69 and a 52 week high of $49.26.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Thursday, October 12th. Patterson Companies’s dividend payout ratio is currently 60.47%.
Patterson Companies Company Profile
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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