Patterson Cos. Expected to Earn Q2 2017 Earnings of $0.59 Per Share (PDCO)
Patterson Cos. (NASDAQ:PDCO) – Stock analysts at William Blair decreased their Q2 2017 EPS estimates for Patterson Cos. in a report released on Monday. William Blair analyst J. Kreger now expects that the brokerage will post earnings per share of $0.59 for the quarter, down from their previous forecast of $0.60. William Blair also issued estimates for Patterson Cos.’s Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.80 EPS, FY2017 earnings at $2.60 EPS and FY2018 earnings at $2.90 EPS.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The business earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS.
A number of other equities analysts have also recently weighed in on the company. Off Wall Street initiated coverage on Patterson Cos. in a report on Monday, August 8th. They issued a “sell” rating for the company. Bank of America Corp. initiated coverage on Patterson Cos. in a report on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 price target for the company. Zacks Investment Research cut Patterson Cos. from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th. Credit Suisse Group AG reissued a “buy” rating and issued a $55.00 price target on shares of Patterson Cos. in a report on Monday, June 27th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $49.00 price target (down from $51.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Patterson Cos. presently has an average rating of “Hold” and a consensus target price of $48.40.
Patterson Cos. (NASDAQ:PDCO) traded down 0.29% during trading on Wednesday, hitting $45.37. The stock had a trading volume of 520,014 shares. The stock’s 50-day moving average is $46.01 and its 200 day moving average is $46.61. Patterson Cos. has a one year low of $38.51 and a one year high of $50.40. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 22.37 and a beta of 0.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, October 12th. Patterson Cos.’s dividend payout ratio (DPR) is presently 47.29%.
In other Patterson Cos. news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $46.22, for a total transaction of $34,665.00. Following the transaction, the insider now owns 40,153 shares in the company, valued at $1,855,871.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PDCO. Prudential PLC bought a new position in shares of Patterson Cos. during the first quarter worth approximately $279,000. Geode Capital Management LLC boosted its position in shares of Patterson Cos. by 1.5% in the first quarter. Geode Capital Management LLC now owns 783,712 shares of the company’s stock worth $36,400,000 after buying an additional 11,454 shares in the last quarter. UBS Group AG boosted its position in shares of Patterson Cos. by 264.2% in the first quarter. UBS Group AG now owns 98,014 shares of the company’s stock worth $4,561,000 after buying an additional 71,105 shares in the last quarter. Zebra Capital Management LLC boosted its position in shares of Patterson Cos. by 63.4% in the first quarter. Zebra Capital Management LLC now owns 27,847 shares of the company’s stock worth $1,296,000 after buying an additional 10,802 shares in the last quarter. Finally, BB&T Securities LLC boosted its position in shares of Patterson Cos. by 29.5% in the first quarter. BB&T Securities LLC now owns 10,918 shares of the company’s stock worth $508,000 after buying an additional 2,484 shares in the last quarter. Institutional investors own 77.29% of the company’s stock.
Patterson Cos. Company Profile
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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