Patterson Cos. (NASDAQ:PDCO) – Investment analysts at Northcoast Research reduced their Q3 2017 earnings estimates for Patterson Cos. in a note issued to investors on Monday. Northcoast Research analyst E. Snyder now forecasts that the brokerage will post earnings of $0.57 per share for the quarter, down from their prior forecast of $0.72. Northcoast Research has a “Buy” rating on the stock. Northcoast Research also issued estimates for Patterson Cos.’s Q4 2017 earnings at $0.65 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.77 EPS.

Patterson Cos. (NASDAQ:PDCO) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.04. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Financial Market News and is owned by of Financial Market News. If you are reading this piece of content on another website, it was stolen and reposted in violation of international trademark and copyright law. The correct version of this piece of content can be accessed at http://www.financial-market-news.com/northcoast-research-weighs-in-on-patterson-cos-s-q3-2017-earnings-pdco/1212292/.

Earnings History and Estimates for Patterson Cos. (NASDAQ:PDCO)

PDCO has been the subject of a number of other reports. Zacks Investment Research cut Patterson Cos. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Bank of America Corp. started coverage on Patterson Cos. in a research note on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 price target for the company. Evercore ISI reiterated a “hold” rating and issued a $48.00 price target (down from $49.00) on shares of Patterson Cos. in a research note on Friday, August 26th. TheStreet raised Patterson Cos. from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Finally, Jefferies Group reissued a “neutral” rating and issued a $48.00 price objective on shares of Patterson Cos. in a report on Friday, November 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $45.33.

Patterson Cos. (NASDAQ:PDCO) opened at 38.74 on Tuesday. The company has a 50-day moving average price of $44.75 and a 200-day moving average price of $46.63. Patterson Cos. has a 12-month low of $36.46 and a 12-month high of $50.40. The stock has a market capitalization of $3.69 billion, a PE ratio of 17.99 and a beta of 0.97.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Financial Market News and is owned by of Financial Market News. If you are reading this piece of content on another website, it was stolen and reposted in violation of international trademark and copyright law. The correct version of this piece of content can be accessed at http://www.financial-market-news.com/northcoast-research-weighs-in-on-patterson-cos-s-q3-2017-earnings-pdco/1212292/.

A number of hedge funds have recently bought and sold shares of PDCO. Vanguard Group Inc. raised its stake in Patterson Cos. by 1.6% in the second quarter. Vanguard Group Inc. now owns 7,763,526 shares of the company’s stock valued at $371,795,000 after buying an additional 122,202 shares during the period. Parnassus Investments CA raised its stake in shares of Patterson Cos. by 0.3% in the third quarter. Parnassus Investments CA now owns 7,077,566 shares of the company’s stock valued at $325,143,000 after buying an additional 21,592 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Patterson Cos. by 30.5% in the third quarter. Wells Fargo & Company MN now owns 3,492,088 shares of the company’s stock valued at $160,426,000 after buying an additional 816,091 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Patterson Cos. by 2.3% in the third quarter. BlackRock Fund Advisors now owns 2,890,149 shares of the company’s stock valued at $132,773,000 after buying an additional 65,947 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Patterson Cos. by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,615,682 shares of the company’s stock valued at $120,164,000 after buying an additional 47,498 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

About Patterson Cos.

Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.

5 Day Chart for NASDAQ:PDCO

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