Patterson Companies (NASDAQ:PDCO) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Patterson Companies (NASDAQ:PDCO) released its quarterly earnings results on Thursday. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02), Zacks reports. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. Patterson Companies updated its FY25 guidance to $2.25-$2.35 EPS.

Patterson Companies Stock Performance

Patterson Companies stock opened at $21.88 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 firm has a 50-day moving average of $20.98 and a 200-day moving average of $22.82. The firm has a market cap of $1.93 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.57 and a beta of 1.00. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $30.68.

Patterson Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.75%. Patterson Companies’s dividend payout ratio is currently 56.83%.

Wall Street Analysts Forecast Growth

PDCO has been the subject of several research reports. Bank of America cut their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group cut their target price 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. Mizuho initiated coverage on shares of Patterson Companies in a research report on Wednesday. They issued a “neutral” rating and a $23.00 target price for the company. Robert W. Baird cut their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Patterson Companies presently has an average rating of “Hold” and a consensus target price of $27.11.

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.