Wall Street brokerages predict that Patterson Companies, Inc. (NASDAQ:PDCO) will report sales of $1.43 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Patterson Companies’ earnings, with the lowest sales estimate coming in at $1.42 billion and the highest estimate coming in at $1.45 billion. Patterson Companies reported sales of $1.45 billion in the same quarter last year, which indicates a negative year over year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results on Thursday, May 24th.
On average, analysts expect that Patterson Companies will report full-year sales of $1.43 billion for the current fiscal year, with estimates ranging from $5.48 billion to $5.52 billion. For the next financial year, analysts expect that the business will report sales of $5.61 billion per share, with estimates ranging from $5.55 billion to $5.70 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, March 1st. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.09). Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $0.58 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year.
A number of equities analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Patterson Companies in a research note on Thursday, March 8th. They issued an “underweight” rating and a $23.00 price target on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $26.00 price target on shares of Patterson Companies in a research note on Tuesday, March 6th. JPMorgan Chase & Co. dropped their price target on shares of Patterson Companies from $36.00 to $26.00 and set an “underweight” rating on the stock in a research note on Monday, March 5th. Zacks Investment Research downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Monday, March 5th. Finally, Northcoast Research set a $38.00 price target on shares of Patterson Companies and gave the stock a “buy” rating in a research note on Thursday, March 1st. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Patterson Companies has a consensus rating of “Hold” and an average price target of $37.30.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PDCO. Amica Retiree Medical Trust boosted its holdings in Patterson Companies by 433.8% during the third quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock valued at $116,000 after acquiring an additional 2,429 shares during the period. Advisory Services Network LLC boosted its holdings in Patterson Companies by 346.8% during the fourth quarter. Advisory Services Network LLC now owns 3,454 shares of the company’s stock valued at $125,000 after acquiring an additional 2,681 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Patterson Companies during the fourth quarter valued at about $145,000. Two Sigma Securities LLC bought a new stake in Patterson Companies during the fourth quarter valued at about $209,000. Finally, IFG Advisory LLC bought a new stake in Patterson Companies during the fourth quarter valued at about $212,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.
Patterson Companies stock traded up $0.61 during midday trading on Friday, hitting $22.29. 3,913,913 shares of the stock were exchanged, compared to its average volume of 2,423,820. Patterson Companies has a 1-year low of $21.36 and a 1-year high of $48.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.80 and a quick ratio of 1.00. The firm has a market capitalization of $2,069.65, a P/E ratio of 8.61, a PEG ratio of 1.74 and a beta of 0.98.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Thursday, April 12th. Patterson Companies’s payout ratio is 40.15%.
Patterson Companies declared that its board has approved a stock buyback program on Tuesday, March 13th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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