Top Wall Street Forecasters Revamp Patterson Companies Expectations Ahead Of Q4 Earnings

Patterson Companies, Inc. PDCO is set to release fiscal 2024 fourth quarter financial results, before the opening bell on Tuesday.

Analysts expect the Saint Paul, Minnesota-based company to report quarterly earnings at 83 cents per share, down from 84 cents per share in the year-ago period. Patterson Companies is expected to post revenue of $1.71 billion, compared to $1.72 billion a year earlier, according to data from Benzinga Pro.

On March 11, Patterson Companies approved a $500 million stock buyback and declared a quarterly dividend of 26 cents per share.

Patterson Companies shares rose 0.1% to close at $22.88 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Piper Sandler analyst Jason Bednar downgraded the stock from Overweight to Neutral and cut the price target from $34 to $28 on Feb. 29. This analyst has an accuracy rate of 60%.
• Morgan Stanley analyst Erin Wright maintained an Equal-Weight rating and slashed the price target from $38 to $35 on Nov. 30, 2023. This analyst has an accuracy rate of 76%.
• Stifel analyst Jonathan Block reiterated a Hold rating with a price target of $32 on Nov. 28, 2023. This analyst has an accuracy rate of 75%.
• Credit Suisse analyst Jonathan Yong maintained an Outperform rating and raised the price target from $35 to $38 on June 22, 2023. This analyst has an accuracy rate of 66%.

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