Patterson Companies, Inc. Forecasted to Post FY2022 Earnings of $3.35 Per Share (PDCO)
Patterson Companies, Inc. (NASDAQ:PDCO) – Equities research analysts at Gabelli issued their FY2022 earnings estimates for Patterson Companies in a report issued on Monday. Gabelli analyst K. Kedra anticipates that the company will earn $3.35 per share for the year.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. WARNING: “Patterson Companies, Inc. Forecasted to Post FY2022 Earnings of $3.35 Per Share (PDCO)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/29/patterson-companies-inc-forecasted-to-post-fy2022-earnings-of-3-35-per-share-pdco.html.
Several other research analysts also recently commented on PDCO. Cleveland Research reaffirmed a “hold” rating on shares of Patterson Companies in a report on Tuesday, August 22nd. TheStreet downgraded shares of Patterson Companies from a “b-” rating to a “c” rating in a report on Thursday, August 24th. Stifel Nicolaus cut their price objective on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating for the company in a report on Tuesday, August 15th. Craig Hallum reaffirmed a “sell” rating and issued a $41.00 price objective (down from $46.00) on shares of Patterson Companies in a report on Thursday, August 17th. They noted that the move was a valuation call. Finally, UBS AG raised shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a report on Friday. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Patterson Companies has an average rating of “Hold” and an average target price of $42.89.
Patterson Companies (PDCO) traded up 0.69% during trading on Tuesday, reaching $37.91. The company’s stock had a trading volume of 1,421,821 shares. The firm’s 50-day moving average is $40.34 and its 200-day moving average is $43.74. The stock has a market cap of $3.54 billion, a P/E ratio of 22.03 and a beta of 0.95. Patterson Companies has a 52-week low of $35.93 and a 52-week high of $49.26.
A number of hedge funds and other institutional investors have recently made changes to their positions in PDCO. Toronto Dominion Bank increased its position in shares of Patterson Companies by 24.5% in the second quarter. Toronto Dominion Bank now owns 27,660 shares of the company’s stock valued at $1,298,000 after buying an additional 5,446 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Patterson Companies by 423.4% in the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock valued at $118,000 after buying an additional 2,041 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Patterson Companies during the second quarter valued at approximately $287,000. Bank of Nova Scotia increased its position in shares of Patterson Companies by 203.8% in the second quarter. Bank of Nova Scotia now owns 51,434 shares of the company’s stock valued at $2,415,000 after buying an additional 34,502 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Patterson Companies by 42.0% in the second quarter. Cubist Systematic Strategies LLC now owns 20,182 shares of the company’s stock valued at $948,000 after buying an additional 5,968 shares during the last quarter. 88.59% of the stock is owned by hedge funds and other institutional investors.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.
Patterson Companies Company Profile
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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