Patterson Companies, Inc. (NASDAQ:PDCO) – Analysts at Jefferies Financial Group cut their Q1 2021 EPS estimates for Patterson Companies in a research report issued on Thursday, June 25th. Jefferies Financial Group analyst B. Couillard now forecasts that the company will earn $0.28 per share for the quarter, down from their previous forecast of $0.29. Jefferies Financial Group also issued estimates for Patterson Companies’ Q1 2022 earnings at $0.32 EPS, Q2 2022 earnings at $0.38 EPS, Q3 2022 earnings at $0.41 EPS, Q4 2022 earnings at $0.40 EPS and FY2022 earnings at $1.52 EPS.
PDCO has been the subject of several other reports. Goldman Sachs Group upgraded Patterson Companies from a “sell” rating to a “neutral” rating and increased their price target for the company from $11.00 to $21.00 in a report on Thursday, June 25th. UBS Group raised their target price on Patterson Companies from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday. Credit Suisse Group restated a “buy” rating on shares of Patterson Companies in a research note on Monday. BidaskClub downgraded Patterson Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 18th. Finally, Wolfe Research raised shares of Patterson Companies from an “underperform” rating to a “market perform” rating in a research report on Thursday, April 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.11.
Shares of NASDAQ PDCO opened at $22.49 on Monday. Patterson Companies has a 12-month low of $12.93 and a 12-month high of $25.70. The company has a market cap of $2.19 billion, a P/E ratio of -3.61, a P/E/G ratio of 2.50 and a beta of 1.53. The company has a current ratio of 1.41, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $18.75 and a 200 day moving average price of $19.67.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Wednesday, June 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.26. Patterson Companies had a positive return on equity of 9.99% and a negative net margin of 10.72%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $0.37 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its holdings in Patterson Companies by 0.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 125,525 shares of the company’s stock worth $2,571,000 after acquiring an additional 627 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Patterson Companies by 3.3% during the first quarter. Crossmark Global Holdings Inc. now owns 19,700 shares of the company’s stock valued at $301,000 after buying an additional 630 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Patterson Companies by 1.6% during the fourth quarter. Mason Street Advisors LLC now owns 45,821 shares of the company’s stock valued at $938,000 after buying an additional 723 shares during the last quarter. O Shares Investment Advisers LLC raised its holdings in shares of Patterson Companies by 2.0% during the fourth quarter. O Shares Investment Advisers LLC now owns 48,226 shares of the company’s stock valued at $988,000 after buying an additional 959 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Patterson Companies by 8.4% during the first quarter. Federated Hermes Inc. now owns 13,300 shares of the company’s stock valued at $203,000 after buying an additional 1,027 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a $0.26 dividend. The ex-dividend date is Thursday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 4.62%. Patterson Companies’s dividend payout ratio is currently 67.10%.
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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