Patterson Companies (NASDAQ:PDCO) Updates FY18 Earnings Guidance

Patterson Companies (NASDAQ:PDCO) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.00-2.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.29.

PDCO has been the subject of a number of research analyst reports. Morgan Stanley downgraded shares of Patterson Companies from an equal weight rating to an underweight rating and set a $42.00 price target for the company. in a research note on Wednesday. Robert W. Baird restated a buy rating and issued a $40.00 price objective on shares of Patterson Companies in a research report on Wednesday, November 22nd. Jefferies Group restated a hold rating and issued a $37.00 price objective on shares of Patterson Companies in a research report on Thursday, November 23rd. Stifel Nicolaus upgraded shares of Patterson Companies from a sell rating to a hold rating and set a $34.00 price target on the stock in a research report on Wednesday, November 15th. Finally, Zacks Investment Research upgraded shares of Patterson Companies from a sell rating to a hold rating in a research report on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Patterson Companies currently has a consensus rating of Hold and an average price target of $41.20.

Shares of Patterson Companies (NASDAQ PDCO) traded down $1.51 during trading on Wednesday, reaching $34.81. 2,821,032 shares of the company were exchanged, compared to its average volume of 1,308,511. The company has a market capitalization of $3,572.44, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95. Patterson Companies has a 12 month low of $32.07 and a 12 month high of $48.29. The company has a current ratio of 1.94, a quick ratio of 1.10 and a debt-to-equity ratio of 0.73.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. equities research analysts predict that Patterson Companies will post 2.06 earnings per share for the current fiscal year.

In related news, Director John D. Buck bought 2,834 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was bought at an average cost of $34.93 per share, with a total value of $98,991.62. Following the completion of the purchase, the director now owns 54,627 shares of the company’s stock, valued at approximately $1,908,121.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ann B. Gugino sold 750 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total transaction of $27,547.50. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.

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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.

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

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