Patterson Companies, Inc. Forecasted to Earn Q2 2018 Earnings of $0.55 Per Share (NASDAQ:PDCO)
Patterson Companies, Inc. (NASDAQ:PDCO) – Investment analysts at Northcoast Research reduced their Q2 2018 earnings per share (EPS) estimates for shares of Patterson Companies in a report released on Tuesday. Northcoast Research analyst E. Snyder now forecasts that the company will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.56. Northcoast Research also issued estimates for Patterson Companies’ Q3 2018 earnings at $0.61 EPS, FY2018 earnings at $2.30 EPS, Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $0.62 EPS and FY2019 earnings at $2.61 EPS.
PDCO has been the subject of a number of other research reports. Stifel Nicolaus cut Patterson Companies from a “hold” rating to a “sell” rating and reduced their price target for the stock from $47.43 to $39.00 in a report on Thursday, July 6th. Zacks Investment Research cut Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Craig Hallum started coverage on Patterson Companies in a research note on Tuesday, April 11th. They set a “hold” rating for the company. BidaskClub upgraded Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, UBS AG lowered Patterson Companies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $44.50 to $40.00 in a research note on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Patterson Companies has an average rating of “Hold” and an average target price of $43.78.
Patterson Companies (PDCO) traded down 0.83% during trading on Wednesday, reaching $38.40. The company’s stock had a trading volume of 470,932 shares. Patterson Companies has a one year low of $36.46 and a one year high of $49.26. The stock has a 50-day moving average of $44.38 and a 200 day moving average of $44.17. The firm has a market capitalization of $3.60 billion, a P/E ratio of 21.45 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.04 annualized dividend and a yield of 2.69%. Patterson Companies’s dividend payout ratio (DPR) is currently 58.10%.
In other news, Director Scott P. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total value of $467,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,500 shares of company stock valued at $532,273. 0.46% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in Patterson Companies by 11.7% in the fourth quarter. Teachers Advisors LLC now owns 106,670 shares of the company’s stock worth $4,377,000 after buying an additional 11,214 shares during the period. Kentucky Retirement Systems bought a new stake in Patterson Companies during the fourth quarter worth about $248,000. Macquarie Group Ltd. raised its stake in Patterson Companies by 16.7% in the fourth quarter. Macquarie Group Ltd. now owns 103,674 shares of the company’s stock worth $4,253,000 after buying an additional 14,800 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Patterson Companies by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 72,136 shares of the company’s stock worth $3,263,000 after buying an additional 1,257 shares during the period. Finally, Creative Planning raised its stake in Patterson Companies by 3.6% in the first quarter. Creative Planning now owns 16,015 shares of the company’s stock worth $724,000 after buying an additional 551 shares during the period. Institutional investors and hedge funds own 89.63% of the company’s stock.
About Patterson Companies
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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