Patterson Companies, Inc. (PDCO) Expected to Post Quarterly Sales of $1.42 Billion
Wall Street brokerages predict that Patterson Companies, Inc. (NASDAQ:PDCO) will post sales of $1.42 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Patterson Companies’ earnings, with the highest sales estimate coming in at $1.46 billion and the lowest estimate coming in at $1.40 billion. Patterson Companies also posted sales of $1.42 billion during the same quarter last year. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Patterson Companies will report full-year sales of $1.42 billion for the current year, with estimates ranging from $5.57 billion to $5.75 billion. For the next year, analysts expect that the firm will report sales of $5.86 billion per share, with estimates ranging from $5.79 billion to $5.99 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Patterson Companies.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue was down 1.4% on a year-over-year basis.
PDCO has been the topic of a number of recent analyst reports. Stifel Nicolaus cut Patterson Companies from a “hold” rating to a “sell” rating and decreased their target price for the company from $47.43 to $39.00 in a research report on Thursday, July 6th. BidaskClub cut Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research cut Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Credit Suisse Group restated an “outperform” rating and set a $50.00 price target (up from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Finally, UBS AG cut Patterson Companies from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $44.50 to $40.00 in a report on Tuesday, July 11th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.89.
Shares of Patterson Companies (NASDAQ:PDCO) opened at 39.37 on Friday. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 22.88 and a beta of 0.97. Patterson Companies has a one year low of $35.93 and a one year high of $49.26. The firm’s 50-day moving average is $38.99 and its 200-day moving average is $43.44.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total value of $31,800.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Patterson Companies by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,204,738 shares of the company’s stock valued at $371,100,000 after buying an additional 214,691 shares during the period. BlackRock Inc. lifted its stake in Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock valued at $303,760,000 after buying an additional 6,491,048 shares during the period. State Street Corp lifted its stake in Patterson Companies by 1.8% in the first quarter. State Street Corp now owns 4,180,364 shares of the company’s stock valued at $189,078,000 after buying an additional 75,261 shares during the period. Fairpointe Capital LLC lifted its stake in Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock valued at $158,044,000 after buying an additional 713,773 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Patterson Companies in the first quarter valued at approximately $128,254,000. 88.61% of the stock is currently owned by hedge funds and other institutional investors.
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Patterson Companies Company Profile
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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