Patterson Companies, Inc. (NASDAQ:PDCO) – Equities research analysts at Piper Jaffray Companies dropped their Q1 2019 earnings per share (EPS) estimates for shares of Patterson Companies in a research note issued on Thursday, June 21st. Piper Jaffray Companies analyst S. James now expects that the company will post earnings of $0.35 per share for the quarter, down from their prior estimate of $0.38. Piper Jaffray Companies currently has a “Hold” rating and a $24.00 price target on the stock. Piper Jaffray Companies also issued estimates for Patterson Companies’ Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.71 EPS, Q1 2020 earnings at $0.38 EPS, Q2 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.48 EPS and Q4 2020 earnings at $0.50 EPS.

A number of other research analysts have also commented on PDCO. Zacks Investment Research raised Patterson Companies from a “strong sell” rating to a “hold” rating in a report on Monday. Stifel Nicolaus decreased their price objective on Patterson Companies from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, June 18th. Morgan Stanley upped their price objective on Patterson Companies from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Friday. BidaskClub lowered Patterson Companies from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Patterson Companies from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, June 7th. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $31.78.

Shares of NASDAQ PDCO opened at $24.12 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.00 and a debt-to-equity ratio of 0.63. Patterson Companies has a one year low of $20.57 and a one year high of $48.29. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 2.30 and a beta of 1.12.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, June 21st. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Patterson Companies had a return on equity of 11.05% and a net margin of 3.68%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 13th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Thursday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is currently 61.90%.

Patterson Companies announced that its board has initiated a stock repurchase program on Tuesday, March 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC grew its holdings in shares of Patterson Companies by 4.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 36,008 shares of the company’s stock worth $1,301,000 after purchasing an additional 1,652 shares in the last quarter. Twin Capital Management Inc. grew its holdings in shares of Patterson Companies by 9.6% during the 1st quarter. Twin Capital Management Inc. now owns 29,524 shares of the company’s stock worth $656,000 after purchasing an additional 2,581 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Patterson Companies by 346.8% during the 4th quarter. Advisory Services Network LLC now owns 3,454 shares of the company’s stock worth $125,000 after purchasing an additional 2,681 shares in the last quarter. Swiss National Bank grew its holdings in shares of Patterson Companies by 2.2% during the 1st quarter. Swiss National Bank now owns 150,100 shares of the company’s stock worth $3,337,000 after purchasing an additional 3,300 shares in the last quarter. Finally, American International Group Inc. grew its holdings in shares of Patterson Companies by 8.8% during the 4th quarter. American International Group Inc. now owns 43,387 shares of the company’s stock worth $1,568,000 after purchasing an additional 3,522 shares in the last quarter. 90.27% of the stock is currently owned by institutional investors.

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.

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

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