Equities analysts expect that Patterson Companies, Inc. (NASDAQ:PDCO) will post $1.43 billion in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Patterson Companies’ earnings. The highest sales estimate is $1.45 billion and the lowest is $1.42 billion. Patterson Companies reported sales of $1.45 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The firm is expected to issue its next earnings report on Thursday, May 24th.
According to Zacks, analysts expect that Patterson Companies will report full year sales of $5.50 billion for the current year, with estimates ranging from $5.48 billion to $5.52 billion. For the next fiscal year, analysts expect that the company will post sales of $5.61 billion per share, with estimates ranging from $5.55 billion to $5.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, March 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.09). Patterson Companies had a net margin of 4.39% and a return on equity of 13.85%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The business’s revenue was down 1.6% on a year-over-year basis.
PDCO has been the subject of several recent research reports. Craig Hallum upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Friday, April 6th. 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. JPMorgan Chase decreased their target price on shares of Patterson Companies from $36.00 to $26.00 and set an “underweight” rating for the company in a research note on Monday, March 5th. BidaskClub upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Finally, Jefferies Group reiterated a “hold” rating and set a $26.00 target price on shares of Patterson Companies in a research note on Tuesday, March 6th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Patterson Companies presently has an average rating of “Hold” and a consensus price target of $36.17.
Shares of PDCO traded up $0.45 during mid-day trading on Wednesday, hitting $23.34. 1,343,080 shares of the company’s stock were exchanged, compared to its average volume of 2,424,021. Patterson Companies has a fifty-two week low of $21.09 and a fifty-two week high of $48.29. The company has a market capitalization of $2,166.17, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.00 and a current ratio of 1.80.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be given a $0.26 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.04 dividend on an annualized basis and a yield of 4.46%. Patterson Companies’s payout ratio is currently 44.44%.
Patterson Companies announced that its Board of Directors has approved a share buyback plan on Tuesday, March 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of large investors have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. lifted its position in Patterson Companies by 2.1% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 73,041 shares of the company’s stock valued at $2,823,000 after purchasing an additional 1,511 shares during the period. Ridgewood Investments LLC lifted its position in Patterson Companies by 22.8% in the fourth quarter. Ridgewood Investments LLC now owns 8,204 shares of the company’s stock valued at $296,000 after purchasing an additional 1,523 shares during the period. Stifel Financial Corp lifted its position in Patterson Companies by 3.7% in the third quarter. Stifel Financial Corp now owns 44,467 shares of the company’s stock valued at $1,722,000 after purchasing an additional 1,571 shares during the period. Meadow Creek Investment Management LLC lifted its position in Patterson Companies by 4.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 36,008 shares of the company’s stock valued at $1,301,000 after purchasing an additional 1,652 shares during the period. Finally, Kwmg LLC lifted its position in Patterson Companies by 4.7% in the fourth quarter. Kwmg LLC now owns 39,367 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,781 shares during the period. Hedge funds and other institutional investors own 94.61% of the company’s stock.
About Patterson Companies
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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