$ 2.05 earnings per share expected for Patrick Industries, Inc. (NASDAQ: PATK) this quarter


Brokerages expect Patrick Industries, Inc. (NASDAQ: PATK) to report earnings of $ 2.05 per share for the current fiscal quarter, Zacks reports. Two analysts have estimated the earnings of Patrick Industries. The highest EPS estimate is $ 2.05 and the lowest is $ 2.04. Patrick Industries posted earnings per share of $ 1.64 in the same quarter of last year, which would indicate a positive growth rate of 25% year-over-year. The company is expected to release its next earnings report on Thursday, February 10.

On average, analysts predict that Patrick Industries will report annual earnings of $ 9.06 per share for the current fiscal year, with EPS estimates ranging from $ 9.05 to $ 9.06. For the next fiscal year, analysts predict the company will post earnings of $ 9.99 per share, with EPS estimates ranging from $ 9.97 to $ 10.00. Zacks EPS Averages is an average based on a survey of research companies that cover Patrick Industries.

Patrick Industries (NASDAQ: PATK) last released its quarterly earnings data on Thursday, October 28. The construction company reported EPS of $ 2.45 for the quarter, beating the consensus estimate of $ 2.03 by $ 0.42. Patrick Industries posted a return on equity of 31.49% and a net margin of 5.45%. The company posted revenue of $ 1.06 billion in the quarter, compared to a consensus estimate of $ 963.33 million. During the same period of the previous year, the company reported earnings per share of $ 1.62. The company’s quarterly revenue increased 51.3% compared to the same quarter last year.

A number of research analysts have recently weighed in on the stock. KeyCorp reduced its target price on Patrick Industries stock from $ 102.00 to $ 90.00 and set an “overweight” rating for the company in a research report released on Monday, October 25. Zacks Investment Research upgraded Patrick Industries from a “hold” rating to a “buy” rating and set a target price of $ 87.00 on the stock in a research note on Tuesday, November 2.

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In addition, director Michael A. Kitson sold 4,022 Patrick Industries shares in a transaction dated Friday, November 5. The shares were sold at an average price of $ 79.53, for a total trade of $ 319,869.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Additionally, President Todd M. Cleveland sold 10,000 shares in a trade that took place on Friday, October 1. The stock was sold for an average price of $ 87.46, for a total value of $ 874,600.00. Disclosure of this sale can be found here. Insiders sold a total of 24,022 shares of the company valued at $ 2,050,770 during the last quarter. Company insiders own 6.10% of the company’s shares.

Large investors have recently increased or reduced their stakes in the company. Epoch Investment Partners Inc. purchased a new stake in Patrick Industries in the 2nd quarter valued at approximately $ 11,177,000. Ziegler Capital Management LLC increased its position in Patrick Industries by 213.6% during the third quarter. Ziegler Capital Management LLC now owns 170,058 shares of the construction company valued at $ 14,166,000 after purchasing an additional 115,837 shares during the period. Nordea Investment Management AB increased its position in Patrick Industries by 96.9% during the third quarter. Nordea Investment Management AB now owns 226,102 shares of the construction company valued at $ 19,092,000 after purchasing an additional 111,284 shares during the period. Millennium Management LLC purchased a new stake in Patrick Industries shares in the second quarter valued at $ 7,373,000. Finally, Marshall Wace LLP purchased a new stake in Patrick Industries shares in the second quarter valued at $ 3,446,000. Institutional investors and hedge funds hold 87.03% of the company’s shares.

PATK shares traded down $ 1.67 during trading hours on Friday, reaching $ 73.51. 2,564 shares of the stock traded hands, compared to its average volume of 153,554. The company has a market cap of $ 1.74 billion, a price / earnings ratio of 8.50 and a beta of 2. , 20. The company has a current ratio of 2.11, a quick ratio of 0.92, and a debt ratio of 1.56. The stock has a fifty-day simple moving average of $ 81.67 and a 200-day simple moving average of $ 80.56. Patrick Industries has a 52 week low of $ 66.57 and a 52 week high of $ 98.83.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 13. Shareholders of record on Monday, November 29 will receive a dividend of $ 0.33 per share. This is an increase from Patrick Industries’ previous quarterly dividend of $ 0.28. This represents a dividend of $ 1.32 on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, November 26. Patrick Industries’ payout rate is currently 15.26%.

Company profile Patrick Industries

Patrick Industries, Inc. is engaged in the manufacture of components and the distribution of construction products for the industrial markets. It operates through the following segments: Manufacturing and distribution. Manufacturing segment includes laminate products which are used to produce furniture, shelving, walls, countertops, cabinet products, cabinet doors, fiberglass bat accessories, wood furniture. hardwood, vinyl printing, solid surface, granite, quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwood lumber, cabinetry custom, polymer-based floor coverings, electrical system components and other products.

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History and earnings estimates for Patrick Industries (NASDAQ: PATK)

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