Citigroup Inc. Reiterates Neutral Rating for Quest Diagnostics (DGX)
Quest Diagnostics (NYSE:DGX)‘s stock had its “neutral” rating restated by stock analysts at Citigroup Inc. in a report issued on Friday, Stock Ratings Network.com reports. They currently have a $60.00 price objective on the stock, down from their previous price objective of $64.00. Citigroup Inc.’s price target points to a potential upside of 2.28% from the stock’s previous close.
The analysts wrote, “DGX previewed disappointing 3Q13 results this morning after mounting a spirited defense of its guidance on its 7/18/13 2Q13 conference call. More recently, on 9/18/13 we hosted a management roadshow in Chicago. The key takeaway from our note was as follows ‘Mgmt is sticking to its 2014 double-digit EPS growth target while maintaining that they’ve seen no material recent change in industry trends.’ Obviously, it’s difficult to square these outlooks with the reported results.”
Shares of Quest Diagnostics (NYSE:DGX) traded down 0.68% during mid-day trading on Friday, hitting $58.26. 1,017,296 shares of the company’s stock traded hands. Quest Diagnostics has a one year low of $55.16 and a one year high of $64.43. The stock’s 50-day moving average is $60.97 and its 200-day moving average is $59.73. The company has a market cap of $8.849 billion and a price-to-earnings ratio of 17.90.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by $0.04. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts predict that Quest Diagnostics will post $4.34 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of Quest Diagnostics in a research note to investors on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Quest Diagnostics in a research note to investors on Tuesday. They now have a $65.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Quest Diagnostics from $66.00 to $71.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.31.
Quest Diagnostics Incorporated (NYSE:DGX)is a provider of diagnostic testing, information and services, providing insights that enable patients and physicians to make healthcare decisions.
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