Brokerages Expect Quest Diagnostics Incorporated (NYSE:DGX) Will Announce Earnings of $2.16 Per Share

Analysts expect Quest Diagnostics Incorporated (NYSE:DGXGet Rating) to announce $2.16 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Quest Diagnostics’ earnings, with the lowest EPS estimate coming in at $1.69 and the highest estimate coming in at $2.33. Quest Diagnostics posted earnings of $3.18 per share during the same quarter last year, which would suggest a negative year over year growth rate of 32.1%. The business is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Quest Diagnostics will report full year earnings of $9.31 per share for the current fiscal year, with EPS estimates ranging from $9.28 to $9.34. For the next fiscal year, analysts anticipate that the business will post earnings of $8.28 per share, with EPS estimates ranging from $7.30 to $8.75. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Quest Diagnostics.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its earnings results on Thursday, April 21st. The medical research company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.31. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.64 billion. Quest Diagnostics had a return on equity of 27.08% and a net margin of 17.61%. Quest Diagnostics’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.76 earnings per share.

DGX has been the topic of a number of analyst reports. Bank of America decreased their price objective on Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, April 22nd. Citigroup downgraded Quest Diagnostics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $175.00 to $140.00 in a research report on Monday, April 4th. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group raised their price objective on Quest Diagnostics from $139.00 to $150.00 in a report on Sunday, April 24th. Finally, Robert W. Baird cut their price objective on Quest Diagnostics from $162.00 to $146.00 in a report on Friday, February 4th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $150.92.

In other news, SVP Michael E. Prevoznik sold 50,604 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $139.97, for a total value of $7,083,041.88. Following the sale, the senior vice president now owns 39,224 shares of the company’s stock, valued at approximately $5,490,183.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 6,228 shares of the business’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $135.21, for a total value of $842,087.88. The disclosure for this sale can be found here. In the last three months, insiders sold 339,240 shares of company stock worth $47,496,139. Company insiders own 1.45% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGX. Mystic Asset Management Inc. acquired a new stake in shares of Quest Diagnostics in the fourth quarter worth about $25,000. Sandy Cove Advisors LLC acquired a new stake in shares of Quest Diagnostics in the first quarter worth about $28,000. Wagner Wealth Management LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter worth about $35,000. Anfield Capital Management LLC lifted its position in shares of Quest Diagnostics by 1,077.8% in the fourth quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company’s stock worth $37,000 after buying an additional 194 shares during the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Quest Diagnostics in the fourth quarter worth about $38,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics stock traded down $0.93 during trading hours on Thursday, hitting $140.10. The stock had a trading volume of 3,829 shares, compared to its average volume of 1,230,643. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.46 and a quick ratio of 1.34. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 9.44 and a beta of 1.05. Quest Diagnostics has a 1-year low of $125.77 and a 1-year high of $174.16. The stock’s fifty day moving average is $138.08 and its two-hundred day moving average is $143.85.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th will be given a $0.66 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $2.64 annualized dividend and a dividend yield of 1.88%. Quest Diagnostics’s payout ratio is 17.58%.

About Quest Diagnostics (Get Rating)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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