Analysts Anticipate Quest Diagnostics Inc (NYSE:DGX) Will Post Earnings of $1.72 Per Share

Brokerages predict that Quest Diagnostics Inc (NYSE:DGX) will post $1.72 earnings per share for the current quarter, Zacks reports. Seven analysts have made estimates for Quest Diagnostics’ earnings, with the highest EPS estimate coming in at $1.79 and the lowest estimate coming in at $1.65. Quest Diagnostics posted earnings of $1.68 per share during the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that Quest Diagnostics will report full-year earnings of $6.50 per share for the current financial year, with EPS estimates ranging from $6.46 to $6.55. For the next year, analysts forecast that the company will post earnings of $6.78 per share, with EPS estimates ranging from $6.62 to $6.90. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Quest Diagnostics.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, October 22nd. The medical research company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.05. Quest Diagnostics had a net margin of 9.64% and a return on equity of 15.05%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm posted $1.68 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year.

A number of equities research analysts have recently commented on DGX shares. Credit Suisse Group upped their price objective on shares of Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Quest Diagnostics from $100.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price objective on the stock in a research note on Monday, September 30th. Goldman Sachs Group lowered shares of Quest Diagnostics from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $90.00 to $85.00 in a research note on Monday, July 15th. Finally, UBS Group reduced their price objective on shares of Quest Diagnostics from $103.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $105.31.

In related news, CAO Michael J. Deppe sold 5,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the transaction, the chief accounting officer now directly owns 28,671 shares of the company’s stock, valued at $3,039,126. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.86% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of DGX. Pearl River Capital LLC bought a new position in Quest Diagnostics during the second quarter worth $28,000. Wealthcare Advisory Partners LLC bought a new position in Quest Diagnostics during the second quarter worth $29,000. Berman Capital Advisors LLC boosted its stake in Quest Diagnostics by 47.7% during the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock worth $32,000 after acquiring an additional 103 shares in the last quarter. NuWave Investment Management LLC raised its holdings in Quest Diagnostics by 108.4% during the third quarter. NuWave Investment Management LLC now owns 346 shares of the medical research company’s stock worth $36,000 after buying an additional 180 shares during the last quarter. Finally, CWM LLC raised its holdings in Quest Diagnostics by 61.1% during the second quarter. CWM LLC now owns 464 shares of the medical research company’s stock worth $47,000 after buying an additional 176 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

NYSE:DGX opened at $100.75 on Wednesday. The firm’s fifty day moving average is $104.56 and its 200-day moving average is $99.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.82. Quest Diagnostics has a 52 week low of $78.95 and a 52 week high of $107.97. The firm has a market cap of $13.83 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.14 and a beta of 0.87.

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, October 3rd. Quest Diagnostics’s dividend payout ratio is presently 33.60%.

About Quest Diagnostics

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

Recommended Story: Book Value Per Share – BVPS

Get a free copy of the Zacks research report on Quest Diagnostics (DGX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.