Patterson Companies, Inc. (NASDAQ:PDCO) – Equities research analysts at Piper Jaffray Companies reduced their Q2 2019 earnings per share estimates for Patterson Companies in a report issued on Thursday, August 30th. Piper Jaffray Companies analyst S. James now anticipates that the company will post earnings of $0.37 per share for the quarter, down from their prior estimate of $0.43. Piper Jaffray Companies also issued estimates for Patterson Companies’ Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.45 EPS, Q1 2020 earnings at $0.30 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.42 EPS and Q4 2020 earnings at $0.46 EPS.

A number of other analysts have also recently issued reports on the company. BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Northcoast Research reissued a “buy” rating on shares of Patterson Companies in a research report on Wednesday, May 16th. Bank of America reduced their price objective on Patterson Companies from $22.00 to $20.00 and set an “underperform” rating for the company in a research report on Tuesday, May 29th. JPMorgan Chase & Co. reduced their price objective on Patterson Companies from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Thursday, June 7th. Finally, Stifel Nicolaus reduced their price objective on Patterson Companies from $28.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, June 18th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.32.

Shares of PDCO stock opened at $23.47 on Monday. Patterson Companies has a 1-year low of $20.22 and a 1-year high of $40.90. The company has a current ratio of 1.79, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.14 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, August 30th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). Patterson Companies had a net margin of 3.01% and a return on equity of 9.71%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year.

Several large investors have recently made changes to their positions in the business. Tyers Asset Management LLC lifted its position in shares of Patterson Companies by 58.0% in the second quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock worth $150,000 after buying an additional 2,432 shares during the last quarter. Twin Capital Management Inc. lifted its position in shares of Patterson Companies by 9.6% during the 1st quarter. Twin Capital Management Inc. now owns 29,524 shares of the company’s stock worth $656,000 after purchasing an additional 2,581 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Patterson Companies by 4.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 69,978 shares of the company’s stock worth $1,586,000 after purchasing an additional 2,665 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Patterson Companies by 9.8% during the 2nd quarter. SG Americas Securities LLC now owns 31,159 shares of the company’s stock worth $706,000 after purchasing an additional 2,779 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Patterson Companies by 2.4% during the 2nd quarter. Baird Financial Group Inc. now owns 121,095 shares of the company’s stock worth $2,745,000 after purchasing an additional 2,798 shares during the last quarter. 90.34% of the stock is owned by institutional investors.

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

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