Quest Diagnostics Inc (NYSE:DGX) Expected to Announce Earnings of $1.60 Per Share

Wall Street brokerages expect Quest Diagnostics Inc (NYSE:DGX) to announce earnings of $1.60 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Quest Diagnostics’ earnings, with the lowest EPS estimate coming in at $1.58 and the highest estimate coming in at $1.65. Quest Diagnostics posted earnings of $1.36 per share during the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The business is scheduled to issue its next earnings report on Thursday, February 13th.

According to Zacks, analysts expect that Quest Diagnostics will report full-year earnings of $6.49 per share for the current financial year, with EPS estimates ranging from $6.48 to $6.53. For the next year, analysts expect that the business will post earnings of $6.74 per share, with EPS estimates ranging from $6.62 to $6.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Quest Diagnostics.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.05. Quest Diagnostics had a net margin of 9.58% and a return on equity of 15.32%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year.

Several brokerages recently commented on DGX. ValuEngine downgraded shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, November 29th. Canaccord Genuity reiterated a “buy” rating and issued a $113.00 price target on shares of Quest Diagnostics in a research note on Wednesday, October 23rd. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price target on the stock in a report on Monday, September 30th. UBS Group cut their price objective on shares of Quest Diagnostics from $103.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, October 21st. Finally, Morgan Stanley boosted their price objective on Quest Diagnostics from $111.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Quest Diagnostics presently has a consensus rating of “Hold” and an average price target of $106.85.

In other news, SVP Michael E. Prevoznik sold 44,556 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $107.43, for a total value of $4,786,651.08. Following the completion of the sale, the senior vice president now directly owns 51,321 shares in the company, valued at $5,513,415.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Michael J. Deppe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total value of $530,000.00. Following the completion of the sale, the chief accounting officer now owns 28,671 shares of the company’s stock, valued at $3,039,126. The disclosure for this sale can be found here. Insiders sold 57,556 shares of company stock worth $6,174,011 over the last 90 days. 1.86% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Pearl River Capital LLC bought a new stake in Quest Diagnostics during the second quarter worth about $28,000. Wealthcare Advisory Partners LLC bought a new position in Quest Diagnostics in the 2nd quarter valued at about $29,000. Berman Capital Advisors LLC raised its position 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 in the last quarter. NuWave Investment Management LLC raised its position in shares of Quest Diagnostics by 108.4% in the 3rd quarter. NuWave Investment Management LLC now owns 346 shares of the medical research company’s stock valued at $36,000 after buying an additional 180 shares in the last quarter. Finally, Quest Capital Management Inc. ADV acquired a new position in shares of Quest Diagnostics in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 88.15% of the company’s stock.

Shares of DGX traded up $0.77 during trading hours on Friday, hitting $106.92. The company had a trading volume of 635,710 shares, compared to its average volume of 1,055,774. The business has a fifty day moving average of $103.53 and a 200-day moving average of $102.22. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.56. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.24 and a beta of 0.85. Quest Diagnostics has a 12 month low of $78.95 and a 12 month high of $108.30.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.98%. Quest Diagnostics’s payout ratio is presently 33.60%.

Quest Diagnostics Company Profile

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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