Jefferies Group Comments on Patterson Companies, Inc.’s Q1 2019 Earnings (PDCO)
Patterson Companies, Inc. (NASDAQ:PDCO) – Equities research analysts at Jefferies Group reduced their Q1 2019 earnings per share (EPS) estimates for shares of Patterson Companies in a report issued on Friday. Jefferies Group analyst B. Couillard now forecasts that the company will post earnings per share of $0.57 for the quarter, down from their prior forecast of $0.60. Jefferies Group currently has a “Hold” rating and a $40.00 target price 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.
Several other analysts have also commented on PDCO. Stifel Nicolaus lowered Patterson Companies from a “hold” rating to a “sell” rating and cut their price objective for the stock from $47.43 to $39.00 in a report on Thursday, July 6th. BidaskClub lowered Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research lowered Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Finally, UBS AG lowered Patterson Companies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $44.50 to $40.00 in a report on Tuesday, July 11th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.89.
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Patterson Companies (NASDAQ:PDCO) traded up 0.5558% during midday trading on Monday, hitting $37.9598. The company had a trading volume of 76,338 shares. The company has a 50 day moving average price of $40.34 and a 200 day moving average price of $43.74. Patterson Companies has a 1-year low of $35.93 and a 1-year high of $49.26. The firm has a market capitalization of $3.54 billion, a P/E ratio of 22.0568 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, August 24th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share.
A number of large investors have recently modified their holdings of PDCO. Toronto Dominion Bank boosted its stake in shares of Patterson Companies by 24.5% in the second quarter. Toronto Dominion Bank now owns 27,660 shares of the company’s stock valued at $1,298,000 after buying an additional 5,446 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Patterson Companies by 423.4% in the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock valued at $118,000 after buying an additional 2,041 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Patterson Companies during the second quarter valued at $287,000. Bank of Nova Scotia boosted its stake in shares of Patterson Companies by 203.8% in the second quarter. Bank of Nova Scotia now owns 51,434 shares of the company’s stock valued at $2,415,000 after buying an additional 34,502 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Patterson Companies by 42.0% in the second quarter. Cubist Systematic Strategies LLC now owns 20,182 shares of the company’s stock valued at $948,000 after buying an additional 5,968 shares during the last quarter. 88.59% of the stock is currently owned by institutional investors.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total transaction of $32,872.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $532,273 over the last 90 days. Company insiders own 0.46% of the company’s stock.
Patterson Companies Company Profile
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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