Patterson Cos. to Post FY2017 Earnings of $2.66 Per Share, Northcoast Research Forecasts (PDCO)
Patterson Cos. (NASDAQ:PDCO) – Investment analysts at Northcoast Research raised their FY2017 earnings per share estimates for shares of Patterson Cos. in a report issued on Tuesday. Northcoast Research analyst E. Snyder now forecasts that the firm will post earnings per share of $2.66 for the year, up from their previous estimate of $2.65. Northcoast Research also issued estimates for Patterson Cos.’s FY2018 earnings at $2.98 EPS.
Patterson Cos. (NASDAQ:PDCO) last announced its earnings results on Thursday, August 25th. The company reported $0.51 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis.
Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group AG restated a “buy” rating and issued a $55.00 price objective on shares of Patterson Cos. in a research report on Monday, June 27th. Zacks Investment Research upgraded shares of Patterson Cos. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Jefferies Group restated a “hold” rating on shares of Patterson Cos. in a research report on Thursday, August 4th. TheStreet downgraded shares of Patterson Cos. from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Finally, Evercore ISI restated a “hold” rating and issued a $48.00 price objective (down previously from $49.00) on shares of Patterson Cos. in a research report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $48.40.
Shares of Patterson Cos. (NASDAQ:PDCO) traded down 1.96% during mid-day trading on Thursday, reaching $44.41. The company’s stock had a trading volume of 930,106 shares. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 21.90 and a beta of 0.94. Patterson Cos. has a 52 week low of $38.51 and a 52 week high of $50.40. The company’s 50-day moving average is $45.96 and its 200-day moving average is $46.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.96 annualized dividend and a dividend yield of 2.12%. Patterson Cos.’s dividend payout ratio is currently 47.29%.
In related news, insider Ann B. Gugino sold 750 shares of Patterson Cos. stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $46.22, for a total transaction of $34,665.00. Following the completion of the transaction, the insider now directly owns 40,153 shares in the company, valued at approximately $1,855,871.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock valued at $113,000 after buying an additional 12 shares in the last quarter. TLP Group LLC bought a new position in shares of Patterson Cos. during the second quarter valued at about $140,000. Friess Associates LLC bought a new position in shares of Patterson Cos. during the first quarter valued at about $151,000. Advisors Asset Management Inc. increased its position in shares of Patterson Cos. by 27.4% in the second quarter. Advisors Asset Management Inc. now owns 3,523 shares of the company’s stock valued at $169,000 after buying an additional 757 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Patterson Cos. by 30.2% in the second quarter. Fifth Third Bancorp now owns 3,871 shares of the company’s stock valued at $185,000 after buying an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.
About Patterson Cos.
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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