Patrick Industries (PATK) Projected to Post Earnings on Thursday

Patrick Industries (NASDAQ:PATK) is expected to be releasing its earnings data before the market opens on Thursday, February 6th. Analysts expect Patrick Industries to post earnings of $0.79 per share and revenue of $815.59 million for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Patrick Industries (NASDAQ:PATK) last posted its earnings results on Thursday, October 31st. The construction company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.02). Patrick Industries had a net margin of 4.24% and a return on equity of 14.84%. The business had revenue of $919.44 million for the quarter, compared to analyst estimates of $935.75 million. During the same quarter last year, the business earned $1.21 earnings per share. Patrick Industries’s revenue was up 6.2% on a year-over-year basis. On average, analysts expect Patrick Industries to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Patrick Industries Price Performance

NASDAQ:PATK opened at $94.47 on Thursday. Patrick Industries has a 52 week low of $66.29 and a 52 week high of $98.90. The company has a quick ratio of 0.97, a current ratio of 2.41 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $3.17 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.41 and a beta of 2.26. The stock’s 50-day moving average price is $88.41 and its 200-day moving average price is $87.79.

Patrick Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, November 25th. Patrick Industries’s dividend payout ratio (DPR) is presently 34.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PATK. KeyCorp raised their target price on Patrick Industries from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Benchmark reaffirmed a “buy” rating and issued a $96.67 price target on shares of Patrick Industries in a research note on Monday, November 4th. StockNews.com lowered shares of Patrick Industries from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Truist Financial decreased their price target on shares of Patrick Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Raymond James decreased their price target on shares of Patrick Industries from $106.67 to $90.67 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $92.63.

Insiders Place Their Bets

In other Patrick Industries news, CEO Andy L. Nemeth sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $93.76, for a total value of $1,406,400.00. Following the transaction, the chief executive officer now directly owns 364,678 shares of the company’s stock, valued at $34,192,209.28. This trade represents a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Patrick Industries Company Profile

Patrick Industries, Inc manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products.