Equities analysts expect that Quest Diagnostics Inc (NYSE:DGX) will announce $1.89 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Quest Diagnostics’ earnings. The lowest sales estimate is $1.87 billion and the highest is $1.93 billion. Quest Diagnostics reported sales of $1.94 billion during the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The company is expected to announce its next earnings report on Thursday, February 7th.
According to Zacks, analysts expect that Quest Diagnostics will report full-year sales of $7.58 billion for the current financial year, with estimates ranging from $7.57 billion to $7.62 billion. For the next financial year, analysts forecast that the firm will post sales of $7.77 billion, with estimates ranging from $7.68 billion to $7.88 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Quest Diagnostics.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.68. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the firm posted $1.38 EPS. Quest Diagnostics’s revenue was up 1.8% compared to the same quarter last year.
Several analysts recently issued reports on DGX shares. ValuEngine downgraded shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, November 30th. Mizuho set a $108.00 price target on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Tuesday, November 20th. Argus set a $106.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a research note on Wednesday, October 24th. Bank of America began coverage on Quest Diagnostics in a research note on Friday, October 19th. They set a “buy” rating on the stock. Finally, Credit Suisse Group dropped their price objective on Quest Diagnostics from $121.00 to $103.00 and set an “outperform” rating on the stock in a research note on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $106.19.
NYSE DGX opened at $87.56 on Friday. Quest Diagnostics has a 12-month low of $85.56 and a 12-month high of $116.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.09. The firm has a market capitalization of $12.21 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.87 and a beta of 0.89.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, January 14th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 2.42%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.04%.
A number of large investors have recently modified their holdings of the business. Marshall Wace LLP raised its stake in shares of Quest Diagnostics by 105.1% during the 3rd quarter. Marshall Wace LLP now owns 1,525,559 shares of the medical research company’s stock worth $164,623,000 after purchasing an additional 781,703 shares during the period. Strategic Wealth Partners Ltd. raised its stake in shares of Quest Diagnostics by 12.3% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 10,469 shares of the medical research company’s stock worth $1,130,000 after purchasing an additional 1,143 shares during the period. HM Payson & Co. raised its stake in shares of Quest Diagnostics by 28.3% during the 3rd quarter. HM Payson & Co. now owns 13,573 shares of the medical research company’s stock worth $1,465,000 after purchasing an additional 2,998 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Quest Diagnostics during the 3rd quarter worth $125,000. Finally, Vanguard Group Inc. raised its stake in shares of Quest Diagnostics by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 14,500,290 shares of the medical research company’s stock worth $1,564,725,000 after purchasing an additional 201,951 shares during the period. Institutional investors and hedge funds own 86.26% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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