Zacks: Analysts Expect Quest Diagnostics Incorporated (NYSE:DGX) to Announce $2.16 Earnings Per Share

Equities analysts forecast that Quest Diagnostics Incorporated (NYSE:DGXGet Rating) will post earnings per share of $2.16 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Quest Diagnostics’ earnings, with the highest EPS estimate coming in at $2.33 and the lowest estimate coming in at $1.69. Quest Diagnostics posted earnings of $3.18 per share in the same quarter last year, which indicates a negative year over year growth rate of 32.1%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, 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 year, analysts forecast that the business will report earnings of $8.28 per share, with EPS estimates ranging from $7.30 to $8.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Quest Diagnostics.

Quest Diagnostics (NYSE:DGXGet Rating) last announced its earnings results on Thursday, April 21st. The medical research company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.30. Quest Diagnostics had a return on equity of 27.08% and a net margin of 17.61%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the company earned $3.76 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year.

A number of research firms have weighed in on DGX. Robert W. Baird cut their price objective on shares of Quest Diagnostics from $162.00 to $146.00 in a report on Friday, February 4th. Bank of America decreased their price objective on Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating for the company in a report on Friday, April 22nd. Morgan Stanley cut their target price on shares of Quest Diagnostics from $159.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, February 14th. Truist Financial decreased their price target on shares of Quest Diagnostics from $170.00 to $160.00 in a research note on Wednesday, January 19th. Finally, UBS Group lifted their price objective on shares of Quest Diagnostics from $139.00 to $150.00 in a research note on Sunday, April 24th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $150.92.

In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Catherine T. Doherty sold 2,750 shares of the stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $126.26, for a total value of $347,215.00. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC lifted its stake in shares of Quest Diagnostics by 15.2% during the first quarter. Great Lakes Advisors LLC now owns 80,505 shares of the medical research company’s stock valued at $11,018,000 after buying an additional 10,622 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Quest Diagnostics by 3.6% during the first quarter. Los Angeles Capital Management LLC now owns 63,526 shares of the medical research company’s stock worth $8,694,000 after purchasing an additional 2,219 shares during the last quarter. Weatherly Asset Management L. P. grew its position in shares of Quest Diagnostics by 4.7% in the first quarter. Weatherly Asset Management L. P. now owns 40,350 shares of the medical research company’s stock valued at $5,522,000 after purchasing an additional 1,810 shares during the period. Pzena Investment Management LLC acquired a new position in Quest Diagnostics in the first quarter valued at $269,000. Finally, Valley National Advisers Inc. purchased a new position in Quest Diagnostics during the first quarter worth about $702,000. 89.89% of the stock is currently owned by institutional investors.

Shares of NYSE DGX opened at $136.30 on Thursday. Quest Diagnostics has a 12-month low of $125.77 and a 12-month high of $174.16. The stock has a market cap of $16.00 billion, a P/E ratio of 9.07 and a beta of 1.05. The company has a current ratio of 1.46, a quick ratio of 1.34 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $137.96 and its 200-day simple moving average is $144.49.

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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