Patterson Companies, Inc. (PDCO) Forecasted to Post Q1 2018 Earnings of $0.43 Per Share

Patterson Companies, Inc. (NASDAQ:PDCO) – Northcoast Research reduced their Q1 2018 earnings per share (EPS) estimates for Patterson Companies in a note issued to investors on Thursday. Northcoast Research analyst E. Snyder now forecasts that the company will post earnings per share of $0.43 for the quarter, down from their prior forecast of $0.45. Northcoast Research also issued estimates for Patterson Companies’ Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.72 EPS, FY2018 earnings at $2.33 EPS and Q3 2019 earnings at $0.69 EPS.

PDCO has been the subject of a number of other research reports. Stifel Nicolaus reissued a “hold” rating and issued a $39.00 price objective on shares of Patterson Companies in a research report on Monday, January 30th. Deutsche Bank AG assumed coverage on shares of Patterson Companies in a research report on Wednesday, March 15th. They issued a “hold” rating and a $45.00 price objective for the company. Zacks Investment Research raised shares of Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, May 2nd. Evercore ISI lowered shares of Patterson Companies from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Finally, Craig Hallum started coverage on shares of Patterson Companies in a research report on Tuesday, April 11th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Patterson Companies presently has a consensus rating of “Hold” and an average price target of $43.63.

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

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Shares of Patterson Companies (NASDAQ:PDCO) opened at 43.94 on Friday. Patterson Companies has a one year low of $36.46 and a one year high of $50.40. The stock’s 50 day moving average is $43.98 and its 200-day moving average is $43.25. The firm has a market cap of $4.16 billion, a P/E ratio of 24.12 and a beta of 0.87.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a net margin of 3.69% and a return on equity of 17.17%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Patterson Companies by 27.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock valued at $104,000 after buying an additional 500 shares during the period. Invictus RG purchased a new position in shares of Patterson Companies during the first quarter valued at $119,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock valued at $139,000 after buying an additional 698 shares during the period. Nordea Investment Management AB increased its position in shares of Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock valued at $169,000 after buying an additional 1,218 shares during the period. Finally, Ashfield Capital Partners LLC purchased a new position in shares of Patterson Companies during the first quarter valued at $213,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

In other Patterson Companies news, Director James W. Wiltz sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $45.65, for a total transaction of $456,500.00. Following the completion of the sale, the director now directly owns 51,735 shares in the company, valued at $2,361,702.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James W. Wiltz sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $45.29, for a total transaction of $1,811,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,000 shares of company stock valued at $2,627,800. 0.46% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were paid a dividend of $0.26 per share. This is an increase from Patterson Companies’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 2.37%. The ex-dividend date was Tuesday, April 11th. Patterson Companies’s payout ratio is currently 44.65%.

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.

12 Month Chart for NASDAQ:PDCO

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