Analysts Issue Forecasts for Patterson Companies, Inc.’s FY2024 Earnings (NASDAQ:PDCO)

Patterson Companies, Inc. (NASDAQ:PDCOFree Report) – Leerink Partnrs cut their FY2024 EPS estimates for shares of Patterson Companies in a research report issued on Tuesday, May 28th. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings per share of $2.30 for the year, down from their previous estimate of $2.31. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Patterson Companies’ current full-year earnings is $2.32 per share. Leerink Partnrs also issued estimates for Patterson Companies’ Q1 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.60 EPS, FY2025 earnings at $2.45 EPS, FY2026 earnings at $2.69 EPS, FY2027 earnings at $3.04 EPS and FY2028 earnings at $3.38 EPS.

PDCO has been the subject of a number of other research reports. Piper Sandler lowered shares of Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $34.00 to $28.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. cut their target price on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. StockNews.com downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Evercore ISI cut their price objective on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. Finally, Bank of America dropped their target price on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and a consensus target price of $31.67.

Check Out Our Latest Analysis on PDCO

Patterson Companies Trading Up 0.8 %

Shares of PDCO opened at $24.21 on Wednesday. Patterson Companies has a 1-year low of $23.63 and a 1-year high of $34.53. The company has a 50-day moving average of $25.77 and a 200 day moving average of $27.68. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.96 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72.

Patterson Companies (NASDAQ:PDCOGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year.

Hedge Funds Weigh In On Patterson Companies

A number of large investors have recently added to or reduced their stakes in PDCO. GAMMA Investing LLC acquired a new position in Patterson Companies during the fourth quarter worth $32,000. Spire Wealth Management purchased a new stake in shares of Patterson Companies during the first quarter worth $35,000. Anchor Investment Management LLC purchased a new stake in shares of Patterson Companies during the fourth quarter worth $55,000. Signaturefd LLC grew its holdings in shares of Patterson Companies by 93.5% during the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock worth $60,000 after buying an additional 1,018 shares in the last quarter. Finally, Verity & Verity LLC purchased a new stake in shares of Patterson Companies during the first quarter worth $69,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

About Patterson Companies

(Get Free Report)

Patterson Companies, Inc engages in the 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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Earnings History and Estimates for Patterson Companies (NASDAQ:PDCO)

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