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

Patterson Companies, Inc. (NASDAQ:PDCO) announced 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 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, October 18th.

Patterson Companies has a payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 0.6 %

Shares of NASDAQ PDCO opened at $20.88 on Thursday. The stock has a fifty day moving average price of $22.25 and a 200 day moving average price of $24.00. The company has a market cap of $1.83 billion, a P/E ratio of 10.44, a P/E/G ratio of 1.46 and a beta of 1.02. Patterson Companies has a 12-month low of $19.89 and a 12-month high of $32.58. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34.

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

Analyst Ratings Changes

Several equities analysts have recently commented on PDCO shares. Robert W. Baird reduced their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Morgan Stanley reduced their price objective 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 dropped 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. Bank of America cut their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. decreased their price target on 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.30.

Patterson Companies Company Profile

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.