$1.58 Billion in Sales Expected for Patterson Companies, Inc. (NASDAQ:PDCO) This Quarter

Brokerages expect Patterson Companies, Inc. (NASDAQ:PDCO) to post sales of $1.58 billion for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Patterson Companies’ earnings, with the highest sales estimate coming in at $1.60 billion and the lowest estimate coming in at $1.57 billion. Patterson Companies reported sales of $1.55 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The firm is expected to report its next earnings report before the market opens on Wednesday, December 1st.

On average, analysts expect that Patterson Companies will report full year sales of $6.41 billion for the current financial year, with estimates ranging from $6.38 billion to $6.43 billion. For the next financial year, analysts forecast that the company will post sales of $6.52 billion, with estimates ranging from $6.44 billion to $6.62 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Patterson Companies.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, September 1st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a net margin of 2.64% and a return on equity of 20.74%. Patterson Companies’s revenue was up 29.6% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share.

Separately, Zacks Investment Research raised shares of Patterson Companies from a “strong sell” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Tuesday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and a consensus price target of $33.00.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mascoma Wealth Management LLC purchased a new position in shares of Patterson Companies in the third quarter valued at approximately $25,000. Captrust Financial Advisors boosted its stake in shares of Patterson Companies by 391.2% in the first quarter. Captrust Financial Advisors now owns 835 shares of the company’s stock valued at $27,000 after purchasing an additional 665 shares during the period. Huntington National Bank boosted its stake in shares of Patterson Companies by 56.5% in the third quarter. Huntington National Bank now owns 1,050 shares of the company’s stock valued at $32,000 after purchasing an additional 379 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Patterson Companies in the second quarter valued at approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Patterson Companies by 89.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,346 shares of the company’s stock valued at $42,000 after purchasing an additional 637 shares during the period. 84.12% of the stock is owned by institutional investors and hedge funds.

PDCO stock traded down $0.52 during mid-day trading on Friday, hitting $32.09. 462,425 shares of the company were exchanged, compared to its average volume of 813,642. The company has a quick ratio of 0.79, a current ratio of 1.51 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.12 billion, a P/E ratio of 18.77, a PEG ratio of 1.72 and a beta of 1.52. The business has a fifty day simple moving average of $32.10 and a 200-day simple moving average of $31.95. Patterson Companies has a 12-month low of $27.02 and a 12-month high of $37.37.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 5th. Stockholders of record on Friday, October 22nd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, October 21st. Patterson Companies’s payout ratio is 60.82%.

Patterson Companies Company Profile

Patterson Cos., Inc engages in dental and animal health supplies. It operates through the following segments: Dental, Animal Health, and Corporate. The Dental segment provides consumable dental products, equipment and software, turnkey digital solutions an value-added services to dentists and dental laboratories.

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Earnings History and Estimates for Patterson Companies (NASDAQ:PDCO)

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