Northcoast Research Weighs in on Patterson Cos.’s Q3 2018 Earnings (PDCO)
Patterson Cos. (NASDAQ:PDCO) – Equities research analysts at Northcoast Research cut their Q3 2018 EPS estimates for shares of Patterson Cos. in a report released on Tuesday. Northcoast Research analyst E. Snyder now forecasts that the firm will post earnings of $0.81 per share for the quarter, down from their previous estimate of $0.83. Northcoast Research also issued estimates for Patterson Cos.’s Q4 2018 earnings at $0.92 EPS.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, August 25th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The company earned $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS.
Several other equities analysts have also issued reports on PDCO. TheStreet lowered Patterson Cos. from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Evercore ISI reissued a “hold” rating and issued a $48.00 price target (down from $49.00) on shares of Patterson Cos. in a research note on Friday, August 26th. Jefferies Group reissued a “hold” rating on shares of Patterson Cos. in a research note on Thursday, August 4th. Zacks Investment Research upgraded Patterson Cos. from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird restated a “neutral” rating and set a $49.00 price objective (down previously from $51.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.40.
Patterson Cos. (NASDAQ:PDCO) traded down 1.96% during midday trading on Friday, hitting $44.41. The stock had a trading volume of 939,463 shares. The stock has a market capitalization of $4.24 billion, a PE ratio of 21.90 and a beta of 0.94. The stock’s 50-day moving average is $45.96 and its 200-day moving average is $46.59. Patterson Cos. has a 1-year low of $38.51 and a 1-year high of $50.40.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.96 annualized dividend and a yield of 2.16%. Patterson Cos.’s dividend payout ratio (DPR) is currently 47.29%.
In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $46.22, for a total transaction of $34,665.00. Following the completion of the sale, the insider now owns 40,153 shares in the company, valued at $1,855,871.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company’s stock.
Large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Patterson Cos. by 3.5% in the first quarter. Wellington Management Group LLP now owns 2,801,575 shares of the company’s stock valued at $130,358,000 after buying an additional 94,184 shares during the period. Palisade Capital Management LLC NJ acquired a new position in shares of Patterson Cos. during the first quarter worth about $2,675,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Patterson Cos. during the first quarter worth about $2,354,000. Envestnet Asset Management Inc. increased its position in shares of Patterson Cos. by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 62,504 shares of the company’s stock worth $2,908,000 after buying an additional 5,602 shares during the period. Finally, Toth Financial Advisory Corp increased its position in shares of Patterson Cos. by 3.1% in the second quarter. Toth Financial Advisory Corp now owns 102,899 shares of the company’s stock worth $4,928,000 after buying an additional 3,088 shares during the period. Institutional investors and hedge funds own 77.29% of the company’s stock.
Patterson Cos. Company Profile
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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