Patterson Companies, Inc. (NASDAQ:PDCO) Declares $0.26 Quarterly Dividend

Patterson Companies, Inc. (NASDAQ:PDCO) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Wednesday, October 16th will be paid a dividend of 0.26 per share on Friday, November 1st. This represents a $1.04 annualized dividend and a yield of 4.98%. The ex-dividend date is Friday, October 18th.

Patterson Companies has a payout ratio of 41.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Patterson Companies to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 41.4%.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $20.88 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $22.25 and its 200 day moving average price is $24.00. Patterson Companies has a 52 week low of $19.89 and a 52 week high of $32.58. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.46 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Patterson Companies will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PDCO shares. Bank of America reduced their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Morgan Stanley decreased their price target on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. UBS Group cut their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Robert W. Baird decreased their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.30.

About Patterson Companies

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.