$1.15 Billion in Sales Expected for Patterson Companies, Inc. (NASDAQ:PDCO) This Quarter

Analysts predict that Patterson Companies, Inc. (NASDAQ:PDCO) will announce sales of $1.15 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Patterson Companies’ earnings, with the highest sales estimate coming in at $1.21 billion and the lowest estimate coming in at $1.10 billion. Patterson Companies reported sales of $1.33 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.5%. The business is scheduled to report its next quarterly earnings results on Thursday, September 3rd.

On average, analysts expect that Patterson Companies will report full-year sales of $5.37 billion for the current financial year, with estimates ranging from $5.23 billion to $5.54 billion. For the next year, analysts expect that the company will post sales of $5.82 billion, with estimates ranging from $5.58 billion to $6.24 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Patterson Companies.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Wednesday, June 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.26. Patterson Companies had a positive return on equity of 11.20% and a negative net margin of 10.72%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year.

PDCO has been the subject of a number of recent research reports. Barclays reissued a “sell” rating and issued a $16.00 target price on shares of Patterson Companies in a research note on Friday, March 20th. JPMorgan Chase & Co. boosted their target price on Patterson Companies from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Wolfe Research raised Patterson Companies from an “underperform” rating to a “market perform” rating in a research note on Thursday, April 2nd. BidaskClub raised Patterson Companies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, ValuEngine lowered Patterson Companies from a “hold” rating to a “sell” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Patterson Companies currently has a consensus rating of “Hold” and a consensus target price of $22.11.

Several institutional investors have recently modified their holdings of the company. State Street Corp grew its position in shares of Patterson Companies by 0.4% during the first quarter. State Street Corp now owns 3,040,212 shares of the company’s stock valued at $46,485,000 after purchasing an additional 12,534 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Patterson Companies by 1,609.1% in the first quarter. Victory Capital Management Inc. now owns 2,333,120 shares of the company’s stock worth $35,673,000 after purchasing an additional 2,196,609 shares during the last quarter. Geode Capital Management LLC lifted its stake in Patterson Companies by 7.5% in the first quarter. Geode Capital Management LLC now owns 1,295,686 shares of the company’s stock worth $19,811,000 after purchasing an additional 90,075 shares during the last quarter. Norges Bank bought a new stake in Patterson Companies in the fourth quarter worth about $18,687,000. Finally, Westwood Holdings Group Inc. lifted its stake in Patterson Companies by 624.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 851,845 shares of the company’s stock worth $17,446,000 after purchasing an additional 734,285 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Shares of NASDAQ PDCO traded down $0.31 during midday trading on Friday, reaching $22.01. The company had a trading volume of 875,879 shares, compared to its average volume of 1,374,985. Patterson Companies has a one year low of $12.93 and a one year high of $25.70. The company has a quick ratio of 0.69, a current ratio of 1.44 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average price is $19.25 and its 200-day moving average price is $19.67. The stock has a market cap of $2.11 billion, a PE ratio of -3.53, a price-to-earnings-growth ratio of 2.38 and a beta of 1.56.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.73%. Patterson Companies’s payout ratio is 67.10%.

Patterson Companies Company Profile

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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