Quest Diagnostics (NYSE:DGX) Releases FY21 Earnings Guidance

Quest Diagnostics (NYSE:DGX) issued an update on its FY21 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $10.65-11.35 for the period, compared to the Thomson Reuters consensus estimate of $11.11. The company issued revenue guidance of $9.54-9.79 billion, compared to the consensus revenue estimate of $9.43 billion.Quest Diagnostics also updated its FY 2021 guidance to $10.650-$11.350 EPS.

DGX stock traded up $1.54 during trading on Thursday, reaching $137.32. The company had a trading volume of 58,559 shares, compared to its average volume of 896,761. The business has a 50-day simple moving average of $131.46. The firm has a market cap of $17.94 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 1.76. Quest Diagnostics has a twelve month low of $104.10 and a twelve month high of $142.80.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, July 22nd. The medical research company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.32. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Quest Diagnostics had a net margin of 17.43% and a return on equity of 29.42%. Quest Diagnostics’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same period last year, the business earned $1.42 EPS. As a group, analysts expect that Quest Diagnostics will post 11.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 21st. Shareholders of record on Wednesday, July 7th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, July 6th. Quest Diagnostics’s dividend payout ratio is presently 22.18%.

A number of equities analysts have issued reports on DGX shares. Mizuho raised their price target on shares of Quest Diagnostics from $149.00 to $158.00 and gave the stock a buy rating in a research report on Wednesday, May 12th. UBS Group raised shares of Quest Diagnostics from a neutral rating to a buy rating and raised their price target for the stock from $135.00 to $158.00 in a research report on Tuesday, May 4th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Quest Diagnostics has an average rating of Buy and a consensus price target of $144.00.

In related news, SVP Catherine T. Doherty sold 8,536 shares of the business’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $139.96, for a total value of $1,194,698.56. Following the completion of the sale, the senior vice president now owns 68,729 shares of the company’s stock, valued at approximately $9,619,310.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael E. Prevoznik sold 44,939 shares of the business’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $137.00, for a total transaction of $6,156,643.00. Following the completion of the sale, the senior vice president now directly owns 85,091 shares of the company’s stock, valued at approximately $11,657,467. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.

About Quest Diagnostics

Quest Diagnostics, Inc engages in the provision of diagnostic testing, information and services. It operates through the Diagnostic Information Services (DIS) and All Other segments. The DIS segment offers diagnostic information services to patients, clinicians, hospitals, health plans, and employers.

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Earnings History and Estimates for Quest Diagnostics (NYSE:DGX)

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