Quest Diagnostics Inc. (DGX) to Release Earnings on Thursday
Quest Diagnostics Inc. (NYSE:DGX) is scheduled to release its Q316 earnings data on Thursday, October 20th. Analysts expect Quest Diagnostics to post earnings of $1.35 per share and revenue of $1.53 billion for the quarter. Quest Diagnostics has set its FY16 guidance at $5.02-5.17 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.02. The business earned $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. Quest Diagnostics had a net margin of 11.02% and a return on equity of 14.41%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, analysts expect Quest Diagnostics to post $5.11 EPS for the current fiscal year and $5.45 EPS for the next fiscal year.
Shares of Quest Diagnostics Inc. (NYSE:DGX) opened at 83.70 on Wednesday. The company has a 50 day moving average of $83.65 and a 200 day moving average of $80.44. Quest Diagnostics Inc. has a 12 month low of $59.66 and a 12 month high of $86.85. The stock has a market cap of $11.64 billion, a P/E ratio of 14.60 and a beta of 0.70.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, September 30th. Quest Diagnostics’s dividend payout ratio is currently 28.02%.
Several equities analysts recently issued reports on DGX shares. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, September 21st. Canaccord Genuity set a $90.00 target price on shares of Quest Diagnostics and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Evercore ISI reaffirmed a “hold” rating and issued a $89.50 target price (up from $78.50) on shares of Quest Diagnostics in a research note on Sunday, July 24th. Jefferies Group boosted their target price on shares of Quest Diagnostics from $75.00 to $86.00 and gave the stock a “hold” rating in a research note on Friday, July 22nd. Finally, Mizuho reaffirmed a “neutral” rating and issued a $86.00 target price on shares of Quest Diagnostics in a research note on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $82.45.
In other Quest Diagnostics news, Director John B. Ziegler sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $84.36, for a total value of $84,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jenne K. Britell sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $85.20, for a total value of $340,800.00. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in DGX. American Century Companies Inc. increased its stake in shares of Quest Diagnostics by 27.7% in the second quarter. American Century Companies Inc. now owns 4,717,816 shares of the company’s stock valued at $384,077,000 after buying an additional 1,022,240 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Quest Diagnostics during the second quarter worth approximately $48,488,000. Lord Abbett & CO. LLC increased its position in shares of Quest Diagnostics by 193.4% in the second quarter. Lord Abbett & CO. LLC now owns 315,400 shares of the company’s stock worth $25,677,000 after buying an additional 207,900 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Quest Diagnostics by 40.0% in the second quarter. TIAA CREF Investment Management LLC now owns 558,159 shares of the company’s stock worth $45,440,000 after buying an additional 159,572 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Quest Diagnostics by 8.4% in the second quarter. Bessemer Group Inc. now owns 1,923,078 shares of the company’s stock worth $156,558,000 after buying an additional 149,744 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.
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 Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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