Quest Diagnostics Inc (DGX) Expected to Post Earnings of $1.68 Per Share

Analysts expect that Quest Diagnostics Inc (NYSE:DGX) will post earnings of $1.68 per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Quest Diagnostics’ earnings, with the lowest EPS estimate coming in at $1.65 and the highest estimate coming in at $1.74. Quest Diagnostics reported earnings of $1.39 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 18th.

On average, analysts expect that Quest Diagnostics will report full-year earnings of $6.59 per share for the current financial year, with EPS estimates ranging from $6.54 to $6.63. For the next fiscal year, analysts expect that the company will post earnings of $7.01 per share, with EPS estimates ranging from $6.89 to $7.28. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Quest Diagnostics.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 24th. The medical research company reported $1.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.01). Quest Diagnostics had a net margin of 10.56% and a return on equity of 15.45%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year.

DGX has been the topic of several recent research reports. Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research report on Tuesday, May 29th. Evercore ISI upgraded Quest Diagnostics from an “in-line” rating to an “outperform” rating and set a $103.00 price objective on the stock in a research report on Tuesday, July 10th. William Blair upgraded Quest Diagnostics from a “market perform” rating to an “outperform” rating in a research report on Friday, June 8th. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Finally, Mizuho restated a “buy” rating on shares of Quest Diagnostics in a research report on Friday, May 25th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Quest Diagnostics currently has a consensus rating of “Hold” and a consensus price target of $110.00.

Shares of NYSE:DGX traded up $0.13 on Friday, hitting $108.53. The company had a trading volume of 636,115 shares, compared to its average volume of 930,053. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.65. Quest Diagnostics has a 52-week low of $90.10 and a 52-week high of $116.49. The company has a market capitalization of $14.81 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.14 and a beta of 0.73.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 23rd. Investors of record on Monday, July 9th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 6th. This represents a $2.00 annualized dividend and a yield of 1.84%. Quest Diagnostics’s payout ratio is currently 37.04%.

In related news, Director Jeffrey M. Leiden sold 1,644 shares of the company’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $105.61, for a total value of $173,622.84. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $633,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Everett Cunningham sold 40,328 shares of the company’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $112.00, for a total value of $4,516,736.00. Following the completion of the transaction, the senior vice president now owns 78,589 shares of the company’s stock, valued at $8,801,968. The disclosure for this sale can be found here. Insiders sold 340,064 shares of company stock valued at $36,688,570 over the last quarter. Insiders own 1.79% of the company’s stock.

A number of large investors have recently made changes to their positions in DGX. Summit Trail Advisors LLC increased its stake in Quest Diagnostics by 11,477.8% during the first quarter. Summit Trail Advisors LLC now owns 1,769,084 shares of the medical research company’s stock worth $1,769,000 after acquiring an additional 1,753,804 shares during the last quarter. Fiduciary Management Inc. WI increased its stake in Quest Diagnostics by 76.5% during the first quarter. Fiduciary Management Inc. WI now owns 3,669,715 shares of the medical research company’s stock worth $368,072,000 after acquiring an additional 1,590,069 shares during the last quarter. BlackRock Inc. increased its stake in Quest Diagnostics by 7.4% during the first quarter. BlackRock Inc. now owns 15,582,475 shares of the medical research company’s stock worth $1,562,924,000 after acquiring an additional 1,071,083 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Quest Diagnostics by 57.3% during the second quarter. Bank of New York Mellon Corp now owns 1,781,373 shares of the medical research company’s stock worth $195,845,000 after acquiring an additional 648,706 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Quest Diagnostics by 24.8% during the second quarter. American Century Companies Inc. now owns 2,962,056 shares of the medical research company’s stock worth $325,648,000 after acquiring an additional 589,197 shares during the last quarter. Institutional investors own 86.90% 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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Earnings History and Estimates for Quest Diagnostics (NYSE:DGX)

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