$1.37 Billion in Sales Expected for Patterson Companies, Inc. (NASDAQ:PDCO) This Quarter

Wall Street brokerages expect Patterson Companies, Inc. (NASDAQ:PDCO) to announce $1.37 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Patterson Companies’ earnings. The lowest sales estimate is $1.36 billion and the highest is $1.37 billion. Patterson Companies posted sales of $1.34 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The company is expected to announce its next quarterly earnings report on Thursday, August 29th.

According to Zacks, analysts expect that Patterson Companies will report full-year sales of $5.72 billion for the current fiscal year, with estimates ranging from $5.68 billion to $5.76 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.89 billion, with estimates ranging from $5.80 billion to $5.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Patterson Companies.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Patterson Companies had a return on equity of 8.94% and a net margin of 1.50%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share.

A number of equities research analysts recently issued reports on the stock. UBS Group set a $24.00 price objective on shares of Patterson Companies and gave the stock a “hold” rating in a report on Tuesday, June 25th. BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Wolfe Research initiated coverage on shares of Patterson Companies in a research report on Thursday, May 30th. They set an “underperform” rating for the company. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $23.00 target price for the company in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Patterson Companies from $22.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Seven research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Patterson Companies currently has an average rating of “Sell” and a consensus price target of $21.14.

NASDAQ:PDCO traded up $0.17 during trading hours on Tuesday, reaching $16.82. The company’s stock had a trading volume of 9,650 shares, compared to its average volume of 1,308,857. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. Patterson Companies has a one year low of $16.40 and a one year high of $26.60. The business’s 50-day moving average is $20.36 and its 200-day moving average is $21.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.83 and a quick ratio of 0.96.

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date was Thursday, July 11th. Patterson Companies’s dividend payout ratio is 74.29%.

Institutional investors have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC raised its position in shares of Patterson Companies by 15,261.5% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,997 shares of the company’s stock valued at $44,000 after buying an additional 1,984 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of Patterson Companies during the first quarter valued at about $49,000. Royce & Associates LP raised its position in shares of Patterson Companies by 34.4% during the first quarter. Royce & Associates LP now owns 2,553 shares of the company’s stock valued at $56,000 after buying an additional 653 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Patterson Companies during the first quarter valued at about $70,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Patterson Companies by 51,183.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,077 shares of the company’s stock valued at $70,000 after buying an additional 3,071 shares during the last quarter. 93.23% of the stock is owned by hedge funds and other 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.

Featured Article: Intrinsic Value and Stock Selection

Get a free copy of the Zacks research report on Patterson Companies (PDCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.