Patterson Cos. (PDCO) Tops Q4 EPS by 2c; Guides FY17 EPS Flat with Views
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Evercore ISI Downgrades Patterson Companies (PDCO) to Hold
May 27, 2016 6:22 AM EDTEvercore ISI downgraded Patterson Companies (NASDAQ: PDCO) from Buy to Hold with a price target of $48.50 (from $49.50).
The firm lowered FY17 EPS from $2.78 to $2.65 due to a materially more conservative view of core revenue growth (now LSD), margin decline vs. expansion, and a lower benefit from repurchases; FY18 EPS from $3.08 to $2.80 given a continued view of LSD underlying Dental / Vet growth and more modest incremental OMs (more comparable to historical rates); FY19 EPS Initiated at $3.00 which contemplates ~3.5% organic revenue growth, 10 bps of OMx, a 33.5% effective tax rate, and all FCF deployed on share... More
Stifel Remains Sidelined on Patterson Cos. (PDCO) Following 4Q Report
May 26, 2016 3:42 PM EDTStifel reiterated a Hold rating on Patterson Companies (NASDAQ: PDCO) following the company's 4Q earnings report. PDCO reported an EPS of $0.77, matching with Stifel's estimate. Patterson also provided initial guidance for FY17 of $2.60-2.70.
Analyst Jonathan Block commented, "Pattersons fiscal 4Q16 revenue was a bit light as Dental fell modestly short of expectations. There were few surprises on the operating margin side (8.2% versus our 8.3%E) so the... More
