Patterson Companies Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Patterson Companies, Inc. (NASDAQ:PDCO) will unveil its latest earnings on Thursday, May 24, 2012. Patterson Companies distributes dental, companion-pet veterinarian, and rehabilitation supplies.

Patterson Companies, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 57 cents per share, a rise of 7.5% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 56 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 57 cents during the last month. Analysts are projecting profit to rise by 1.1% versus last year to $1.91.

Past Earnings Performance: The company met estimates last quarter after falling short of forecasts in the prior two. Before reporting profit of 50 cents per share in the third quarter to fall in line with expectations, the company beat estimates by one cent in the second quarter.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 3.6% in revenue from the year-earlier quarter to $915.8 million.

Analyst Ratings: Analysts are bullish on this stock, with seven analysts rating it as a buy, one rating it as a sell and five rating it as a hold.

A Look Back: In the third quarter, profit fell 4.1% to $53.1 million (50 cents a share) from $55.4 million (47 cents a share) the year earlier, meeting analyst expectations. Revenue rose 8.5% to $895 million from $824.6 million.

Key Stats:

After experiencing income drops the past three quarters, the company is hoping to use this earnings announcement to rebound. Net income fell 9.9% in the first quarter, by 8.3% in the second quarter and again in the third quarter.

The company is looking to build on last quarter’s top line growth, which snapped a string of revenue declines. Revenue fell 0.3% in the first quarter and 0.1% in the second quarter before climbing in the third quarter.

Stock Price Performance: Between May 14, 2012 and May 18, 2012, the stock price dropped 98 cents (-2.9%), from $33.23 to $32.25. The stock price saw one of its best stretches over the last year between April 23, 2012 and May 1, 2012, when shares rose for seven straight days, increasing 6.5% (+$2.11) over that span. It saw one of its worst periods between May 23, 2011 and June 8, 2011 when shares fell for 12 straight days, dropping 10.6% (-$3.69) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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