Quest Diagnostics Inc (DGX) Expected to Announce Earnings of $1.39 Per Share

Wall Street analysts expect Quest Diagnostics Inc (NYSE:DGX) to post earnings per share (EPS) of $1.39 for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Quest Diagnostics’ earnings, with estimates ranging from $1.34 to $1.55. Quest Diagnostics reported earnings of $1.31 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 1st.

On average, analysts expect that Quest Diagnostics will report full year earnings of $5.65 per share for the current year, with EPS estimates ranging from $5.62 to $5.67. For the next financial year, analysts forecast that the company will report earnings of $5.96 per share, with EPS estimates ranging from $5.64 to $6.64. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Quest Diagnostics.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS.

Several brokerages have weighed in on DGX. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 target price on shares of Quest Diagnostics in a research note on Tuesday, January 16th. ValuEngine downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. SunTrust Banks set a $105.00 target price on Quest Diagnostics and gave the company a “hold” rating in a research note on Sunday, October 15th. Credit Suisse Group cut their target price on Quest Diagnostics from $110.00 to $99.00 and set a “neutral” rating on the stock in a research note on Thursday, September 28th. Finally, Zacks Investment Research downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. Quest Diagnostics currently has an average rating of “Hold” and an average target price of $106.45.

Shares of Quest Diagnostics (NYSE:DGX) traded up $1.49 during trading on Thursday, reaching $103.06. The company’s stock had a trading volume of 866,765 shares, compared to its average volume of 599,058. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.78. The company has a market cap of $14,046.97, a P/E ratio of 18.47, a P/E/G ratio of 2.03 and a beta of 0.60. Quest Diagnostics has a 52-week low of $90.10 and a 52-week high of $112.96.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Monday, January 8th. Quest Diagnostics’s dividend payout ratio is presently 37.74%.

In other news, EVP J. E. Davis sold 63,880 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total value of $6,303,678.40. Following the sale, the executive vice president now owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.75% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cibc Bank USA acquired a new position in shares of Quest Diagnostics in the 4th quarter worth $408,000. State of Alaska Department of Revenue grew its holdings in shares of Quest Diagnostics by 11.2% in the 4th quarter. State of Alaska Department of Revenue now owns 131,855 shares of the medical research company’s stock worth $12,984,000 after acquiring an additional 13,240 shares during the last quarter. Oakbrook Investments LLC acquired a new position in shares of Quest Diagnostics in the 4th quarter worth $512,000. Fox Run Management L.L.C. grew its holdings in shares of Quest Diagnostics by 110.0% in the 4th quarter. Fox Run Management L.L.C. now owns 7,351 shares of the medical research company’s stock worth $724,000 after acquiring an additional 3,851 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Quest Diagnostics by 1.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 518,980 shares of the medical research company’s stock worth $51,115,000 after acquiring an additional 8,866 shares during the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.

WARNING: This piece was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://sportsperspectives.com/2018/01/21/quest-diagnostics-inc-dgx-expected-to-announce-earnings-of-1-39-per-share.html.

About Quest Diagnostics

Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).

Get a free copy of the Zacks research report on Quest Diagnostics (DGX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Quest Diagnostics (NYSE:DGX)

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply