G.Research Weighs in on Patterson Companies, Inc.’s FY2021 Earnings (NASDAQ:PDCO)
Patterson Companies, Inc. (NASDAQ:PDCO) – Research analysts at G.Research raised their FY2021 EPS estimates for Patterson Companies in a report released on Thursday, June 25th. G.Research analyst K. Kedra now expects that the company will post earnings per share of $1.35 for the year, up from their previous forecast of $1.10. G.Research also issued estimates for Patterson Companies’ FY2022 earnings at $1.75 EPS, FY2023 earnings at $2.10 EPS and FY2024 earnings at $2.30 EPS.
A number of other brokerages also recently weighed in on PDCO. TheStreet downgraded Patterson Companies from a “c” rating to a “d+” rating in a report on Wednesday, June 24th. UBS Group increased their price target on Patterson Companies from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday. Barclays reiterated a “sell” rating and set a $16.00 price target on shares of Patterson Companies in a report on Friday, March 20th. Zacks Investment Research downgraded Patterson Companies from a “hold” rating to a “sell” rating and set a $22.00 price target for the company. in a report on Wednesday, June 3rd. Finally, ValuEngine upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.11.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Wednesday, June 24th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.26. Patterson Companies had a positive return on equity of 9.99% and a negative net margin of 10.72%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $0.37 earnings per share. Patterson Companies’s quarterly revenue was down 10.5% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.62%. Patterson Companies’s dividend payout ratio (DPR) is presently 67.10%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its position in Patterson Companies by 0.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 125,525 shares of the company’s stock valued at $2,571,000 after acquiring an additional 627 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Patterson Companies by 3.3% in the 1st quarter. Crossmark Global Holdings Inc. now owns 19,700 shares of the company’s stock valued at $301,000 after acquiring an additional 630 shares in the last quarter. Mason Street Advisors LLC lifted its position in Patterson Companies by 1.6% in the 4th quarter. Mason Street Advisors LLC now owns 45,821 shares of the company’s stock valued at $938,000 after acquiring an additional 723 shares in the last quarter. O Shares Investment Advisers LLC lifted its position in Patterson Companies by 2.0% in the 4th quarter. O Shares Investment Advisers LLC now owns 48,226 shares of the company’s stock valued at $988,000 after acquiring an additional 959 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Patterson Companies by 8.4% in the 1st quarter. Federated Hermes Inc. now owns 13,300 shares of the company’s stock valued at $203,000 after acquiring an additional 1,027 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.
Patterson Companies Company Profile
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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