Q1 2019 Earnings Estimate for Patterson Companies, Inc. Issued By Jefferies Group (PDCO)
Patterson Companies, Inc. (NASDAQ:PDCO) – Equities research analysts at Jefferies Group decreased their Q1 2019 EPS estimates for Patterson Companies in a research note issued on Friday. Jefferies Group analyst B. Couillard now expects that the company will post earnings per share of $0.57 for the quarter, down from their prior estimate of $0.60. Jefferies Group currently has a “Hold” rating and a $40.00 price objective on the stock. Jefferies Group also issued estimates for Patterson Companies’ Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.63 EPS and Q4 2019 earnings at $0.67 EPS.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company posted $0.51 earnings per share. Patterson Companies’s revenue for the quarter was down 1.4% compared to the same quarter last year.
PDCO has been the topic of a number of other reports. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Cleveland Research reaffirmed a “hold” rating on shares of Patterson Companies in a research note on Tuesday, August 22nd. Stifel Nicolaus dropped their price target on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Tuesday, August 15th. UBS AG raised shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research note on Friday. Finally, Craig Hallum reaffirmed a “sell” rating and issued a $41.00 price target (down from $46.00) on shares of Patterson Companies in a research note on Thursday, August 17th. They noted that the move was a valuation call. 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’s stock. Patterson Companies has a consensus rating of “Hold” and an average price target of $42.89.
Patterson Companies (NASDAQ:PDCO) traded up 0.32% during midday trading on Monday, hitting $37.77. 1,020,914 shares of the stock traded hands. The stock’s 50-day moving average price is $40.34 and its 200 day moving average price is $43.74. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 21.95 and a beta of 0.95. Patterson Companies has a 52 week low of $35.93 and a 52 week high of $49.26.
Institutional investors have recently bought and sold shares of the company. Parnassus Investments CA increased its position in 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 during the last quarter. Vanguard Group Inc. increased its position in Patterson Companies by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,204,738 shares of the company’s stock valued at $371,100,000 after buying an additional 214,691 shares during the last quarter. BlackRock Inc. increased 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. State Street Corp increased its stake in shares of Patterson Companies by 1.8% in the first quarter. State Street Corp now owns 4,180,364 shares of the company’s stock valued at $189,078,000 after buying an additional 75,261 shares in the last quarter. Finally, Fairpointe Capital LLC increased 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. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
In other Patterson Companies news, Director Scott P. Anderson sold 10,000 shares of the 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total transaction of $31,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
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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