Analysts forecast that Patterson Companies, Inc. (NASDAQ:PDCO) will post sales of $1.43 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for Patterson Companies’ earnings, with the highest sales estimate coming in at $1.44 billion and the lowest estimate coming in at $1.42 billion. Patterson Companies reported sales of $1.40 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The firm is expected to report its next quarterly earnings report on Thursday, June 20th.
According to Zacks, analysts expect that Patterson Companies will report full year sales of $5.57 billion for the current year, with estimates ranging from $5.56 billion to $5.59 billion. For the next financial year, analysts forecast that the firm will post sales of $5.72 billion, with estimates ranging from $5.65 billion to $5.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.38. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Patterson Companies had a return on equity of 8.50% and a net margin of 1.38%. During the same period in the previous year, the business earned $0.43 EPS.
Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Patterson Companies from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. ValuEngine raised Patterson Companies from a “sell” rating to a “hold” rating in a report on Friday, March 1st. BidaskClub raised Patterson Companies from a “buy” rating to a “strong-buy” rating in a report on Friday, February 8th. Finally, UBS Group assumed coverage on Patterson Companies in a report on Thursday, January 17th. They issued a “neutral” rating and a $23.00 target price for the company. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $21.86.
NASDAQ PDCO traded up $0.08 during trading on Tuesday, reaching $22.23. 15,819 shares of the company’s stock were exchanged, compared to its average volume of 612,484. Patterson Companies has a 1 year low of $18.94 and a 1 year high of $26.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 0.89. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33.
The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Thursday, April 11th. Patterson Companies’s dividend payout ratio (DPR) is presently 61.90%.
Hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Patterson Companies by 18.5% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,573 shares of the company’s stock worth $122,000 after acquiring an additional 870 shares during the period. One Wealth Advisors LLC acquired a new stake in shares of Patterson Companies in the 1st quarter worth approximately $33,000. Man Group plc grew its holdings in shares of Patterson Companies by 2.1% in the 1st quarter. Man Group plc now owns 304,289 shares of the company’s stock worth $6,649,000 after acquiring an additional 6,195 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Patterson Companies by 7.7% in the 1st quarter. Advisors Asset Management Inc. now owns 906,298 shares of the company’s stock worth $19,803,000 after acquiring an additional 64,793 shares during the period. Finally, SEI Investments Co grew its holdings in shares of Patterson Companies by 23.6% in the 1st quarter. SEI Investments Co now owns 24,377 shares of the company’s stock worth $532,000 after acquiring an additional 4,655 shares during the period. Hedge funds and other institutional investors own 95.35% 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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