Quest Diagnostics Inc (NYSE:DGX) Expected to Announce Earnings of $1.72 Per Share

Wall Street analysts expect Quest Diagnostics Inc (NYSE:DGX) to post earnings per share (EPS) of $1.72 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Quest Diagnostics’ earnings. The lowest EPS estimate is $1.65 and the highest is $1.79. Quest Diagnostics reported earnings of $1.68 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The firm is expected to report its next earnings report on Tuesday, October 22nd.

On average, analysts expect that Quest Diagnostics will report full-year earnings of $6.50 per share for the current year, with EPS estimates ranging from $6.45 to $6.56. For the next financial year, analysts anticipate that the business will report earnings of $6.80 per share, with EPS estimates ranging from $6.72 to $6.90. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Quest Diagnostics.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 EPS.

Several brokerages have recently weighed in on DGX. JPMorgan Chase & Co. increased their price target on Quest Diagnostics from $100.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Goldman Sachs Group lowered Quest Diagnostics from a “neutral” rating to a “sell” rating and cut their price objective for the company from $90.00 to $85.00 in a research report on Monday, July 15th. Mizuho set a $110.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a research report on Monday, May 20th. Credit Suisse Group raised their price objective on Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price objective for the company in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $104.44.

In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 244,565 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $24,456,500.00. Following the completion of the sale, the chairman now directly owns 457,614 shares of the company’s stock, valued at $45,761,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Guinan sold 73,005 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $7,300,500.00. Following the sale, the insider now directly owns 139,022 shares of the company’s stock, valued at $13,902,200. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of DGX. Pearl River Capital LLC bought a new stake in Quest Diagnostics in the 2nd quarter valued at approximately $28,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Quest Diagnostics in the 2nd quarter valued at approximately $29,000. Berman Capital Advisors LLC grew its stake in shares of Quest Diagnostics by 47.7% in the 2nd quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock valued at $32,000 after buying an additional 103 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Quest Diagnostics in the 1st quarter valued at approximately $42,000. Finally, Signaturefd LLC grew its stake in shares of Quest Diagnostics by 74.7% in the 1st quarter. Signaturefd LLC now owns 505 shares of the medical research company’s stock valued at $45,000 after buying an additional 216 shares during the period. Institutional investors own 91.94% of the company’s stock.

Shares of DGX stock traded up $0.36 on Thursday, hitting $99.89. The company had a trading volume of 963,500 shares, compared to its average volume of 1,137,268. The firm has a market cap of $13.51 billion, a P/E ratio of 15.83, a P/E/G ratio of 2.03 and a beta of 0.88. The stock’s 50-day moving average is $101.41 and its two-hundred day moving average is $94.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.82. Quest Diagnostics has a twelve month low of $78.95 and a twelve month high of $112.38.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.12%. Quest Diagnostics’s dividend payout ratio is presently 33.60%.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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