Patterson Companies, Inc. (PDCO) Expected to Announce Earnings of $0.37 Per Share

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Wall Street analysts expect Patterson Companies, Inc. (NASDAQ:PDCO) to post earnings of $0.37 per share for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Patterson Companies’ earnings. The highest EPS estimate is $0.45 and the lowest is $0.34. Patterson Companies posted earnings per share of $0.51 in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 20th.

On average, analysts expect that Patterson Companies will report full year earnings of $1.45 per share for the current year, with EPS estimates ranging from $1.40 to $1.78. For the next fiscal year, analysts anticipate that the business will report earnings of $1.56 per share, with EPS estimates ranging from $1.50 to $1.63. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Patterson Companies.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, August 30th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.08). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. Patterson Companies’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share.

Several research analysts have weighed in on the stock. ValuEngine raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Saturday, September 22nd. Morgan Stanley decreased their price objective on shares of Patterson Companies from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Friday, August 31st. BidaskClub upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Goldman Sachs Group initiated coverage on shares of Patterson Companies in a research report on Friday. They issued a “sell” rating and a $19.00 price target on the stock. Finally, Leerink Swann initiated coverage on shares of Patterson Companies in a research report on Friday, August 10th. They issued a “market perform” rating and a $25.00 price target on the stock. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.68.

PDCO stock traded down $0.24 during mid-day trading on Monday, hitting $23.16. 750,591 shares of the company were exchanged, compared to its average volume of 2,217,512. The firm has a market cap of $2.22 billion, a P/E ratio of 13.79, a P/E/G ratio of 3.22 and a beta of 1.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.79 and a quick ratio of 0.87. Patterson Companies has a twelve month low of $20.22 and a twelve month high of $40.36.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 12th will be given a $0.26 dividend. The ex-dividend date is Thursday, October 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.49%. Patterson Companies’s payout ratio is currently 61.90%.

Several institutional investors have recently bought and sold shares of PDCO. BlackRock Inc. lifted its position in Patterson Companies by 33.9% in the 1st quarter. BlackRock Inc. now owns 6,856,469 shares of the company’s stock valued at $152,419,000 after purchasing an additional 1,734,138 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Patterson Companies by 74.8% in the 1st quarter. JPMorgan Chase & Co. now owns 304,000 shares of the company’s stock valued at $6,759,000 after purchasing an additional 130,048 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Patterson Companies by 17.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 49,291 shares of the company’s stock valued at $1,096,000 after purchasing an additional 7,427 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Patterson Companies by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,687,216 shares of the company’s stock valued at $37,507,000 after purchasing an additional 211,678 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Patterson Companies by 74.3% in the 1st quarter. Russell Investments Group Ltd. now owns 158,607 shares of the company’s stock valued at $3,523,000 after purchasing an additional 67,605 shares during the last quarter. Institutional investors own 90.51% of the company’s stock.

About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Earnings History and Estimates for Patterson Companies (NASDAQ:PDCO)

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