Patterson Cos. to Post Q3 2017 Earnings of $0.56 Per Share, Jefferies Group Forecasts (PDCO)

Patterson Cos. (NASDAQ:PDCO) – Jefferies Group cut their Q3 2017 EPS estimates for Patterson Cos. in a research report issued on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the firm will earn $0.56 per share for the quarter, down from their previous estimate of $0.67. Jefferies Group has a “Hold” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for Patterson Cos.’s Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.30 EPS, Q1 2018 earnings at $0.51 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $2.45 EPS.

Patterson Cos. (NASDAQ:PDCO) last posted its earnings results on Tuesday, November 22nd. The company reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.04. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. The business earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. Patterson Cos.’s revenue for the quarter was up 2.1% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Patterson Cos. to Post Q3 2017 Earnings of $0.56 Per Share, Jefferies Group Forecasts (PDCO)” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be accessed at https://sportsperspectives.com/2016/12/03/patterson-cos-to-post-q3-2017-earnings-of-0-56-per-share-jefferies-group-forecasts-pdco.html.

Earnings History and Estimates for Patterson Cos. (NASDAQ:PDCO)

A number of other brokerages also recently issued reports on PDCO. Off Wall Street assumed coverage on Patterson Cos. in a research note on Monday, August 8th. They set a “sell” rating for the company. TheStreet upgraded Patterson Cos. from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Evercore ISI lowered their price target on Patterson Cos. to $39.00 in a report on Tuesday, November 22nd. Zacks Investment Research upgraded Patterson Cos. from a “sell” rating to a “hold” rating in a report on Monday, September 5th. Finally, Bank of America Corp. assumed coverage on Patterson Cos. in a report on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.33.

Shares of Patterson Cos. (NASDAQ:PDCO) opened at 39.20 on Thursday. Patterson Cos. has a 52-week low of $36.46 and a 52-week high of $50.40. The stock has a market cap of $3.74 billion, a P/E ratio of 18.20 and a beta of 0.90. The firm has a 50-day moving average price of $44.75 and a 200-day moving average price of $46.63.

Large investors have recently made changes to their positions in the stock. Donald L. Hagan LLC bought a new stake in shares of Patterson Cos. during the second quarter worth approximately $1,013,000. TIAA CREF Trust Co. FSB MO boosted its stake in Patterson Cos. by 12.0% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 15,965 shares of the company’s stock valued at $765,000 after buying an additional 1,714 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Patterson Cos. during the second quarter valued at about $220,000. State of Alaska Department of Revenue boosted its stake in Patterson Cos. by 0.3% in the second quarter. State of Alaska Department of Revenue now owns 19,811 shares of the company’s stock valued at $948,000 after buying an additional 54 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Patterson Cos. during the second quarter valued at about $326,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Patterson Cos. to Post Q3 2017 Earnings of $0.56 Per Share, Jefferies Group Forecasts (PDCO)” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be accessed at https://sportsperspectives.com/2016/12/03/patterson-cos-to-post-q3-2017-earnings-of-0-56-per-share-jefferies-group-forecasts-pdco.html.

About Patterson Cos.

Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.

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