Patterson Companies (NASDAQ:PDCO – Get Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.25-2.35 for the period, compared to the consensus estimate of $2.27.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Patterson Companies from $34.00 to $30.00 and set a neutral rating for the company in a research note on Tuesday, September 6th. William Blair reaffirmed a market perform rating on shares of Patterson Companies in a research note on Friday, September 2nd. Credit Suisse Group upped their price objective on shares of Patterson Companies to $39.00 in a research note on Monday. TheStreet cut shares of Patterson Companies from a b rating to a c+ rating in a research note on Monday, September 12th. Finally, Evercore ISI cut their price objective on shares of Patterson Companies to $26.50 in a research note on Tuesday, September 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $33.25.
Patterson Companies Trading Up 2.6 %
NASDAQ:PDCO opened at $28.44 on Thursday. The company has a fifty day moving average of $26.93 and a 200 day moving average of $28.57. Patterson Companies has a 52 week low of $23.87 and a 52 week high of $35.29. The company has a quick ratio of 0.80, a current ratio of 1.63 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $2.76 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.52 and a beta of 1.28.
Patterson Companies (NASDAQ:PDCO – Get Rating) last posted its quarterly earnings results on Thursday, December 1st. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Patterson Companies had a net margin of 3.02% and a return on equity of 20.68%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business posted $0.58 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts predict that Patterson Companies will post 2.27 earnings per share for the current year.
Patterson Companies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Friday, October 21st were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, October 20th. This represents a $1.04 dividend on an annualized basis and a yield of 3.66%. Patterson Companies’s dividend payout ratio is currently 52.79%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its holdings in Patterson Companies by 28.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock worth $55,000 after purchasing an additional 405 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new position in Patterson Companies in the 1st quarter worth $181,000. PNC Financial Services Group Inc. increased its stake in shares of Patterson Companies by 89.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,266 shares of the company’s stock worth $203,000 after acquiring an additional 2,966 shares in the last quarter. First Republic Investment Management Inc. bought a new position in shares of Patterson Companies in the 1st quarter worth about $218,000. Finally, Delphia USA Inc. bought a new position in shares of Patterson Companies in the 1st quarter worth about $242,000. 82.55% of the stock is currently owned by institutional investors.
Patterson Companies Company Profile
Patterson Companies, Inc engages in distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.
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