Patterson Companies, Inc. (NASDAQ:PDCO) – Analysts at Jefferies Financial Group cut their Q1 2021 earnings estimates for Patterson Companies in a research report issued on Thursday, June 25th. Jefferies Financial Group analyst B. Couillard now expects that the company will post earnings per share of $0.28 for the quarter, down from their prior forecast of $0.29. Jefferies Financial Group also issued estimates for Patterson Companies’ Q1 2022 earnings at $0.32 EPS, Q2 2022 earnings at $0.38 EPS, Q3 2022 earnings at $0.41 EPS, Q4 2022 earnings at $0.40 EPS and FY2022 earnings at $1.52 EPS.

A number of other research firms have also weighed in on PDCO. BidaskClub raised shares of Patterson Companies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Barclays reissued a “sell” rating and issued a $16.00 target price on shares of Patterson Companies in a research note on Friday, March 20th. JPMorgan Chase & Co. raised their price target on shares of Patterson Companies from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Credit Suisse Group restated a “buy” rating on shares of Patterson Companies in a report on Monday. Finally, Goldman Sachs Group upgraded shares of Patterson Companies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $11.00 to $21.00 in a report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Patterson Companies presently has an average rating of “Hold” and an average price target of $22.11.

PDCO opened at $22.00 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.69. The company’s 50 day simple moving average is $18.87 and its two-hundred day simple moving average is $19.67. Patterson Companies has a 1-year low of $12.93 and a 1-year high of $25.70. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -3.53, a price-to-earnings-growth ratio of 2.50 and a beta of 1.53.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Wednesday, June 24th. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.26. Patterson Companies had a negative net margin of 10.72% and a positive return on equity of 9.99%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $0.37 EPS. The business’s revenue was down 10.5% on a year-over-year basis.

A number of institutional investors have recently bought and sold shares of PDCO. Victory Capital Management Inc. increased its holdings in Patterson Companies by 1,609.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,333,120 shares of the company’s stock valued at $35,673,000 after purchasing an additional 2,196,609 shares during the last quarter. Norges Bank acquired a new stake in Patterson Companies in the 4th quarter valued at approximately $18,687,000. Westwood Holdings Group Inc. increased its holdings in Patterson Companies by 624.6% in the 4th quarter. Westwood Holdings Group Inc. now owns 851,845 shares of the company’s stock valued at $17,446,000 after purchasing an additional 734,285 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Patterson Companies by 120.1% in the 1st quarter. Nuveen Asset Management LLC now owns 776,708 shares of the company’s stock valued at $11,876,000 after purchasing an additional 423,799 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Patterson Companies by 853.7% in the 4th quarter. Point72 Asset Management L.P. now owns 443,743 shares of the company’s stock valued at $9,088,000 after purchasing an additional 397,213 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.04 annualized dividend and a yield of 4.73%. Patterson Companies’s dividend payout ratio (DPR) is presently 67.10%.

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.

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

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