Patterson Companies, Inc. (NASDAQ:PDCO) – Equities researchers at William Blair upped their Q1 2021 earnings per share (EPS) estimates for Patterson Companies in a research note issued to investors on Wednesday, June 24th. William Blair analyst J. Kreger now anticipates that the company will post earnings of $0.19 per share for the quarter, up from their previous forecast of $0.15. William Blair also issued estimates for Patterson Companies’ Q2 2021 earnings at $0.27 EPS, Q3 2021 earnings at $0.38 EPS, Q4 2021 earnings at $0.47 EPS, FY2021 earnings at $1.32 EPS, FY2022 earnings at $1.85 EPS, FY2023 earnings at $1.94 EPS and FY2024 earnings at $2.06 EPS.
A number of other research firms also recently weighed in on PDCO. Credit Suisse Group reiterated a “buy” rating on shares of Patterson Companies in a research note on Monday. BidaskClub upgraded shares of Patterson Companies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. ValuEngine upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Barclays restated a “sell” rating and issued a $16.00 target price on shares of Patterson Companies in a research note on Friday, March 20th. Finally, TheStreet downgraded shares of Patterson Companies from a “c” rating to a “d+” rating in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Patterson Companies presently has an average rating of “Hold” and an average price target of $22.11.
PDCO opened at $22.00 on Monday. Patterson Companies has a fifty-two week low of $12.93 and a fifty-two week high of $25.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.69. The firm’s fifty day moving average price is $18.87 and its two-hundred day moving average price is $19.67. The company has a market capitalization of $2.19 billion, a P/E ratio of -3.53, a P/E/G ratio of 2.50 and a beta of 1.53.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, June 24th. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.26. Patterson Companies had a negative net margin of 10.72% and a positive return on equity of 9.99%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.04 annualized dividend and a yield of 4.73%. Patterson Companies’s dividend payout ratio (DPR) is 67.10%.
A number of hedge funds and other institutional investors have recently modified their holdings of PDCO. Victory Capital Management Inc. raised its holdings in Patterson Companies by 1,609.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,333,120 shares of the company’s stock worth $35,673,000 after purchasing an additional 2,196,609 shares during the last quarter. Norges Bank bought a new stake in Patterson Companies during the 4th quarter worth about $18,687,000. Westwood Holdings Group Inc. raised its holdings in Patterson Companies by 624.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 851,845 shares of the company’s stock worth $17,446,000 after purchasing an additional 734,285 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Patterson Companies by 120.1% during the 1st quarter. Nuveen Asset Management LLC now owns 776,708 shares of the company’s stock worth $11,876,000 after purchasing an additional 423,799 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Patterson Companies by 853.7% during the 4th quarter. Point72 Asset Management L.P. now owns 443,743 shares of the company’s stock worth $9,088,000 after purchasing an additional 397,213 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.
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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