Patterson Cos. to Post Q3 2018 Earnings of $0.81 Per Share, Northcoast Research Forecasts (PDCO)
Patterson Cos. (NASDAQ:PDCO) – Analysts at Northcoast Research decreased their Q3 2018 earnings per share estimates for shares of Patterson Cos. in a research report issued on Tuesday. Northcoast Research analyst E. Snyder now anticipates that the brokerage will post earnings per share of $0.81 for the quarter, down from their previous forecast of $0.83. Northcoast Research also issued estimates for Patterson Cos.’s Q4 2018 earnings at $0.92 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 analysts’ consensus estimates of $0.51. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The business earned $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned $0.47 earnings per share. Patterson Cos.’s quarterly revenue was up 15.7% on a year-over-year basis.
A number of other brokerages have also recently issued reports on PDCO. TheStreet cut shares of Patterson Cos. from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Evercore ISI reissued a “hold” rating and set a $48.00 price target (down previously from $49.00) on shares of Patterson Cos. in a research report on Friday, August 26th. Jefferies Group reissued a “hold” rating on shares of Patterson Cos. in a research report on Thursday, August 4th. Zacks Investment Research raised shares of Patterson Cos. from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Robert W. Baird reissued a “neutral” rating and set a $49.00 price target (down previously from $51.00) 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 assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.40.
Shares of Patterson Cos. (NASDAQ:PDCO) traded down 1.96% during trading on Friday, reaching $44.41. 939,464 shares of the company were exchanged. The stock has a market capitalization of $4.24 billion, a PE ratio of 21.90 and a beta of 0.94. The stock has a 50-day moving average price of $45.91 and a 200-day moving average price of $46.59. Patterson Cos. has a one year low of $38.51 and a one year high of $50.40.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. boosted 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 worth $113,000 after buying an additional 12 shares during the period. TLP Group LLC acquired a new position in shares of Patterson Cos. during the second quarter worth about $140,000. Friess Associates LLC acquired a new position in shares of Patterson Cos. during the first quarter worth about $151,000. Advisors Asset Management Inc. boosted 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 worth $169,000 after buying an additional 757 shares during the period. Finally, Fifth Third Bancorp boosted 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 worth $185,000 after buying an additional 899 shares during the period. 77.29% of the stock is owned by institutional investors.
In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $46.22, for a total value 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 document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.96 annualized dividend and a yield of 2.16%. Patterson Cos.’s dividend payout ratio (DPR) is presently 47.29%.
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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