Zacks: Analysts Expect Quest Diagnostics Inc (DGX) to Announce $1.41 EPS
Wall Street brokerages predict that Quest Diagnostics Inc (NYSE:DGX) will report earnings per share (EPS) of $1.41 for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Quest Diagnostics’ earnings, with the lowest EPS estimate coming in at $1.38 and the highest estimate coming in at $1.43. Quest Diagnostics posted earnings of $1.34 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The company is scheduled to report its next earnings report on Thursday, July 20th.
On average, analysts expect that Quest Diagnostics will report full year earnings of $5.56 per share for the current fiscal year, with EPS estimates ranging from $5.50 to $5.60. For the next financial year, analysts anticipate that the business will post earnings of $5.84 per share, with EPS estimates ranging from $5.72 to $6.00. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Quest Diagnostics.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, April 20th. The medical research company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.15. Quest Diagnostics had a return on equity of 14.61% and a net margin of 8.56%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $1.12 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis.
Several research analysts recently weighed in on the company. Argus assumed coverage on Quest Diagnostics in a research report on Friday, May 12th. They set a “hold” rating and a $102.00 price target on the stock. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research report on Tuesday. Evercore ISI reissued an “in-line” rating and set a $104.50 price target (up from $102.00) on shares of Quest Diagnostics in a research report on Monday, April 24th. Deutsche Bank AG reissued a “buy” rating and set a $115.00 price target (up from $108.00) on shares of Quest Diagnostics in a research report on Sunday, April 23rd. Finally, Barclays PLC reissued an “equal weight” rating and set a $100.00 price target (up from $98.00) on shares of Quest Diagnostics in a research report on Sunday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $107.27.
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Shares of Quest Diagnostics (NYSE:DGX) traded down 0.254% during mid-day trading on Friday, reaching $107.865. The company’s stock had a trading volume of 309,713 shares. The firm’s 50 day moving average is $104.10 and its 200-day moving average is $95.71. The company has a market capitalization of $14.76 billion, a PE ratio of 21.712 and a beta of 0.68. Quest Diagnostics has a 52-week low of $75.20 and a 52-week high of $108.61.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 24th. Stockholders of record on Monday, July 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.66%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.00%.
In other news, SVP Catherine T. Doherty sold 7,162 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $98.28, for a total transaction of $703,881.36. Following the completion of the sale, the senior vice president now owns 87,809 shares in the company, valued at approximately $8,629,868.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 440 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $97.39, for a total value of $42,851.60. Following the sale, the senior vice president now owns 41,734 shares of the company’s stock, valued at approximately $4,064,474.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,213 shares of company stock valued at $5,732,460. 1.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in DGX. Parallel Advisors LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at about $101,000. YorkBridge Wealth Partners LLC increased its stake in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Quest Diagnostics during the third quarter valued at about $110,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Quest Diagnostics during the fourth quarter valued at about $145,000. Finally, Advisors Capital Management LLC bought a new stake in Quest Diagnostics during the first quarter valued at about $164,000. Institutional investors own 87.71% of the company’s stock.
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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