Patterson Companies, Inc. (NASDAQ:PDCO – Get Rating) – Research analysts at William Blair decreased their Q3 2023 EPS estimates for shares of Patterson Companies in a research note issued on Thursday, December 1st. William Blair analyst B. Vazquez now expects that the company will post earnings of $0.61 per share for the quarter, down from their prior estimate of $0.63. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Patterson Companies’ current full-year earnings is $2.27 per share. William Blair also issued estimates for Patterson Companies’ FY2023 earnings at $2.29 EPS, Q2 2024 earnings at $0.55 EPS, Q3 2024 earnings at $0.65 EPS and FY2024 earnings at $2.34 EPS.

Patterson Companies (NASDAQ:PDCO – Get Rating) last announced its quarterly earnings results on Thursday, December 1st. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Patterson Companies had a net margin of 3.13% and a return on equity of 20.93%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS.

Several other brokerages have also recently commented on PDCO. TheStreet upgraded shares of Patterson Companies from a “c+” rating to a “b” rating in a research note on Thursday, December 1st. The Goldman Sachs Group decreased their price target on shares of Patterson Companies from $34.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 6th. Robert W. Baird reduced their target price on shares of Patterson Companies to $33.00 in a report on Tuesday, September 6th. StockNews.com upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a report on Friday. Finally, Piper Sandler reduced their target price on shares of Patterson Companies from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, October 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.83.

Patterson Companies Stock Down 1.1 %

Shares of PDCO stock opened at $28.99 on Monday. The stock has a market cap of $2.81 billion, a P/E ratio of 14.28, a PEG ratio of 1.61 and a beta of 1.30. 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 0.83, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $27.07 and its two-hundred day simple moving average is $28.51.

Hedge Funds Weigh In On Patterson Companies

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Patterson Companies by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company’s stock valued at $218,558,000 after purchasing an additional 147,277 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Patterson Companies by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,017,569 shares of the company’s stock valued at $96,503,000 after purchasing an additional 37,202 shares during the last quarter. American Century Companies Inc. grew its holdings in Patterson Companies by 14.9% during the 1st quarter. American Century Companies Inc. now owns 3,232,682 shares of the company’s stock valued at $104,642,000 after purchasing an additional 418,046 shares during the last quarter. State Street Corp grew its holdings in Patterson Companies by 3.3% during the 3rd quarter. State Street Corp now owns 2,875,503 shares of the company’s stock valued at $69,070,000 after purchasing an additional 91,095 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in Patterson Companies by 54.9% during the 3rd quarter. River Road Asset Management LLC now owns 2,783,743 shares of the company’s stock valued at $66,866,000 after purchasing an additional 986,888 shares during the last quarter. 82.55% of the stock is currently owned by institutional investors.

Patterson Companies Announces Dividend

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 of this dividend was Thursday, October 20th. This represents a $1.04 annualized dividend and a yield of 3.59%. Patterson Companies’s payout ratio is 51.23%.

By: NickPosted on Categories: MONEY