Wall Street brokerages expect that Patterson Companies, Inc. (NASDAQ:PDCO) will announce earnings of $0.38 per share for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Patterson Companies’ earnings. The highest EPS estimate is $0.45 and the lowest is $0.34. Patterson Companies posted earnings of $0.51 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 25.5%. The business is expected to announce its next earnings report on Tuesday, November 20th.
On average, analysts expect that Patterson Companies will report full year earnings of $1.48 per share for the current financial year, with EPS estimates ranging from $1.40 to $1.78. For the next year, analysts forecast that the business will report earnings of $1.59 per share, with EPS estimates ranging from $1.51 to $1.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share.
A number of brokerages recently issued reports on PDCO. ValuEngine raised Patterson Companies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. Morgan Stanley cut their price objective on Patterson Companies from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Friday, August 31st. Barclays cut their price objective on Patterson Companies from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, August 31st. Zacks Investment Research downgraded Patterson Companies from a “buy” rating to a “sell” rating in a research report on Monday, August 27th. Finally, BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.32.
Shares of NASDAQ:PDCO opened at $24.74 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.79 and a quick ratio of 0.87. The stock has a market cap of $2.34 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.37 and a beta of 1.07. Patterson Companies has a 12-month low of $20.22 and a 12-month high of $40.36.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D grew its position in Patterson Companies by 4.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 520,000 shares of the company’s stock valued at $11,788,000 after acquiring an additional 20,000 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in Patterson Companies in the 2nd quarter valued at about $408,000. Quantbot Technologies LP grew its position in Patterson Companies by 309.6% in the 1st quarter. Quantbot Technologies LP now owns 104,665 shares of the company’s stock valued at $2,326,000 after acquiring an additional 79,114 shares in the last quarter. Tyers Asset Management LLC grew its position in Patterson Companies by 58.0% in the 2nd quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock valued at $150,000 after acquiring an additional 2,432 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Patterson Companies in the 2nd quarter valued at about $389,000. 90.34% of the stock is owned by institutional investors.
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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