Quest Diagnostics Inc (DGX) Expected to Post Earnings of $1.54 Per Share

Wall Street brokerages expect that Quest Diagnostics Inc (NYSE:DGX) will report earnings per share of $1.54 for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Quest Diagnostics’ earnings. The highest EPS estimate is $1.69 and the lowest is $1.41. Quest Diagnostics reported earnings of $1.33 per share in the same quarter last year, which would indicate a positive year over year growth rate of 15.8%. The firm is scheduled to announce its next earnings report on Thursday, April 19th.

According to Zacks, analysts expect that Quest Diagnostics will report full-year earnings of $6.51 per share for the current fiscal year, with EPS estimates ranging from $5.64 to $6.65. For the next year, analysts anticipate that the firm will post earnings of $6.83 per share, with EPS estimates ranging from $6.46 to $7.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Quest Diagnostics.

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Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the business earned $1.31 EPS. Quest Diagnostics’s revenue for the quarter was up 4.0% compared to the same quarter last year.

Several research firms have issued reports on DGX. Goldman Sachs Group began coverage on Quest Diagnostics in a report on Monday, January 29th. They set a “buy” rating and a $117.00 price objective on the stock. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday. Mizuho set a $113.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, January 24th. Argus upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $104.14 to $116.00 in a report on Wednesday. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $110.00 price target on shares of Quest Diagnostics in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Quest Diagnostics presently has a consensus rating of “Hold” and an average price target of $108.10.

In related news, Chairman Stephen H. Rusckowski sold 106,840 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $107.00, for a total transaction of $11,431,880.00. Following the completion of the transaction, the chairman now directly owns 272,956 shares in the company, valued at approximately $29,206,292. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP J. E. Davis sold 1,798 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $104.42, for a total value of $187,747.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,358 shares of company stock valued at $21,617,807. 1.75% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wagner Wealth Management LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $106,000. Fuller & Thaler Asset Management Inc. acquired a new position in Quest Diagnostics during the 4th quarter worth $118,000. Cerebellum GP LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $128,000. Assetmark Inc. boosted its position in Quest Diagnostics by 139.5% during the 4th quarter. Assetmark Inc. now owns 1,473 shares of the medical research company’s stock worth $145,000 after acquiring an additional 858 shares during the period. Finally, Icon Wealth Partners LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $147,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Shares of Quest Diagnostics (NYSE DGX) opened at $106.99 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Quest Diagnostics has a twelve month low of $90.10 and a twelve month high of $112.96. The stock has a market capitalization of $14,510.00, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th will be paid a dividend of $0.50 per share. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, April 3rd. Quest Diagnostics’s dividend payout ratio is presently 38.05%.

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Quest Diagnostics Company Profile

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).

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

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