Patterson Companies, Inc. (PDCO) Announces Earnings Results
Patterson Companies, Inc. (NASDAQ:PDCO) posted its quarterly earnings results on Thursday. The company reported $0.44 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44, Bloomberg Earnings reports. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Patterson Companies updated its FY18 guidance to $2.25-2.40 EPS.
Patterson Companies (NASDAQ:PDCO) opened at 37.75 on Friday. The company has a market capitalization of $3.54 billion, a PE ratio of 21.09 and a beta of 0.95. Patterson Companies has a 12-month low of $35.93 and a 12-month high of $49.26. The company has a 50 day moving average price of $40.34 and a 200-day moving average price of $43.74.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. Patterson Companies’s dividend payout ratio is 60.47%.
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In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total transaction of $32,872.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $532,273 over the last 90 days. 0.46% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of PDCO. BlackRock Inc. boosted its stake in shares of Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock valued at $303,760,000 after buying an additional 6,491,048 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Patterson Companies during the first quarter valued at $128,254,000. Fairpointe Capital LLC boosted its stake in shares of Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock valued at $158,044,000 after buying an additional 713,773 shares in the last quarter. Shapiro Capital Management LLC boosted its stake in shares of Patterson Companies by 81.1% in the first quarter. Shapiro Capital Management LLC now owns 1,433,460 shares of the company’s stock valued at $64,835,000 after buying an additional 642,050 shares in the last quarter. Finally, Parnassus Investments CA boosted its stake in shares of Patterson Companies by 6.1% in the first quarter. Parnassus Investments CA now owns 8,396,864 shares of the company’s stock valued at $370,312,000 after buying an additional 481,947 shares in the last quarter. Institutional investors own 89.34% of the company’s stock.
PDCO has been the subject of a number of analyst reports. TheStreet cut Patterson Companies from a “b-” rating to a “c” rating in a report on Thursday. Credit Suisse Group reissued an “outperform” rating and set a $50.00 price objective (up from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research cut Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $40.00 price objective on shares of Patterson Companies in a report on Friday, May 5th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.89.
About Patterson Companies
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.
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