Equities analysts expect Patterson Companies, Inc. (NASDAQ:PDCO) to post $1.38 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Patterson Companies’ earnings, with the lowest sales estimate coming in at $1.36 billion and the highest estimate coming in at $1.40 billion. Patterson Companies posted sales of $1.40 billion during the same quarter last year, which suggests a negative year over year growth rate of 1.4%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, March 1st.
On average, analysts expect that Patterson Companies will report full year sales of $1.38 billion for the current year, with estimates ranging from $5.48 billion to $5.64 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.69 billion per share, with estimates ranging from $5.65 billion to $5.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $0.56 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis.
Several equities analysts recently commented on PDCO shares. Stifel Nicolaus upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research note on Wednesday, November 15th. Morgan Stanley downgraded shares of Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price target on the stock. in a research note on Wednesday, December 6th. Deutsche Bank initiated coverage on shares of Patterson Companies in a research note on Friday, December 8th. They set a “hold” rating and a $37.00 price objective on the stock. Zacks Investment Research upgraded shares of Patterson Companies from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies initiated coverage on shares of Patterson Companies in a research note on Thursday, October 19th. They set a “neutral” rating and a $41.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.29.
In related news, Director John D. Buck purchased 2,834 shares of Patterson Companies stock in a transaction dated Friday, November 24th. The shares were bought at an average cost of $34.93 per share, for a total transaction of $98,991.62. Following the purchase, the director now owns 54,627 shares in the company, valued at approximately $1,908,121.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new stake in shares of Patterson Companies in the 3rd quarter valued at approximately $2,961,000. FMR LLC boosted its stake in shares of Patterson Companies by 5.7% in the 2nd 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 in the last quarter. Clinton Group Inc. acquired a new stake in shares of Patterson Companies in the 2nd quarter valued at approximately $554,000. Nomura Holdings Inc. acquired a new stake in shares of Patterson Companies in the 2nd quarter valued at approximately $287,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of Patterson Companies in the 2nd quarter valued at approximately $10,104,000. Institutional investors own 93.63% of the company’s stock.
Patterson Companies (NASDAQ:PDCO) traded down $1.53 during mid-day trading on Friday, hitting $33.69. 1,141,639 shares of the company traded hands, compared to its average volume of 1,299,497. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10. Patterson Companies has a fifty-two week low of $32.07 and a fifty-two week high of $48.29. The firm has a market capitalization of $3,339.70, a P/E ratio of 15.86, a PEG ratio of 1.96 and a beta of 0.89.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, January 11th. This represents a $1.04 dividend on an annualized basis and a yield of 3.09%. Patterson Companies’s payout ratio is 62.28%.
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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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