Patterson Companies, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Patterson Companies, Inc. (NASDAQ:PDCO) will unveil its latest earnings on Tuesday, November 22, 2011. Patterson Companies distributes dental, companion-pet veterinarian, and rehabilitation supplies.

Patterson Companies, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 47 cents per share, a rise of 4.4% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 2.6% versus last year to $1.94.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the first quarter, it reported net income of 42 cents per share against a mean estimate of 45 cents. Two quarters ago, it beat expectations by 2 cents with profit of 53 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 3.5% in revenue from the year-earlier quarter to $887.8 million. Analyst Ratings: seven out of 12 analysts surveyed (58.3%) have a buy rating on Patterson Companies.. This is below the mean analyst rating of 10 competitors, which average 58.6% buy ratings. A Look Back: In the first quarter, profit fell 9.9% to $48.6 million (42 cents a share) from $53.9 million (45 cents a share) the year earlier, missing analyst expectations. Revenue fell 0.3% to $847.4 million from $849.8 million.

Key Stats: A year-over-year revenue decrease in the first quarter snapped a streak of three consecutive quarters of revenue increases. Revenue rose 8.7%in the fourth quarter of the last fiscal year, 0.6% in the third quarter of the last fiscal year and 5.2% in the second quarter of the last fiscal year. The decrease in profit in the first quarter came after net income rose in the previous quarter. In the fourth quarter of the last fiscal year, net income rose 1.5%.

Competitors to Watch: Henry Schein, Inc. (NASDAQ:HSIC), PSS World Medical, Inc. (NASDAQ:PSSI), Owens & Minor, Inc. (NYSE:OMI), Chindex Intl., Inc. (NASDAQ:CHDX), McKesson Corporation (NYSE:MCK), Lincare Holdings Inc. (NASDAQ:LNCR), AmerisourceBergen Corp. (NYSE:ABC), White Dental Supply Inc (WITD), Certified Diabetic Services Inc (CDIPQ), and E Med Future, Inc (EMDF).

Stock Price Performance: During September 21, 2011 to November 16, 2011, the stock price had risen $1.69 (6%) from $28.02 to $29.71. The stock price saw one of its best stretches over the last year between March 25, 2011 and April 7, 2011 when shares rose for 10-straight days, rising 6.2% (+$1.92) over that span. It saw one of its worst periods between May 19, 2011 and June 8, 2011 when shares fell for 14-straight days, falling 13.8% (-$5.04) over that span. Shares are down 48 cents (-1.6%) year to date.

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

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