Quest Diagnostics Inc. (DGX) to Release Earnings on Thursday
Quest Diagnostics Inc. (NYSE:DGX) will announce its Q316 earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $1.35 per share and revenue of $1.53 billion for the quarter. Quest Diagnostics has set its FY16 guidance at $5.02-5.17 EPS.Investors interested in registering for the company’s conference call can do so using this link.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, July 21st. The company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.02. The firm earned $1.91 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Quest Diagnostics had a return on equity of 14.41% and a net margin of 11.02%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. On average, analysts expect Quest Diagnostics to post $5.11 EPS for the current fiscal year and $5.45 EPS for the next fiscal year.
Quest Diagnostics Inc. (NYSE:DGX) opened at 83.70 on Wednesday. The stock has a market cap of $11.64 billion, a PE ratio of 14.60 and a beta of 0.70. Quest Diagnostics Inc. has a one year low of $59.66 and a one year high of $86.85. The stock has a 50 day moving average price of $83.65 and a 200-day moving average price of $80.44.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 1.91%. Quest Diagnostics’s payout ratio is 28.02%.
A number of equities analysts recently weighed in on DGX shares. Citigroup Inc. started coverage on Quest Diagnostics in a report on Friday, September 9th. They issued a “neutral” rating and a $86.00 price target for the company. Canaccord Genuity set a $90.00 price target on Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, September 14th. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, September 21st. Mizuho cut Quest Diagnostics from a “buy” rating to a “neutral” rating and upped their price target for the stock from $84.00 to $86.00 in a report on Wednesday, August 31st. Finally, Jyske Bank cut Quest Diagnostics from a “neutral” rating to a “sell” rating in a report on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Quest Diagnostics presently has a consensus rating of “Hold” and an average price target of $82.45.
In related news, Director John B. Ziegler sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $84.36, for a total transaction of $84,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jenne K. Britell sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $85.20, for a total transaction of $340,800.00. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Quest Diagnostics by 27.7% in the second quarter. American Century Companies Inc. now owns 4,717,816 shares of the company’s stock valued at $384,077,000 after buying an additional 1,022,240 shares during the period. BlackRock Inc. increased its stake in shares of Quest Diagnostics by 29.4% in the second quarter. BlackRock Inc. now owns 382,103 shares of the company’s stock valued at $31,108,000 after buying an additional 86,920 shares during the period. BlackRock Fund Advisors increased its stake in shares of Quest Diagnostics by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,060,059 shares of the company’s stock valued at $249,119,000 after buying an additional 132,250 shares during the period. BlackRock Group LTD increased its stake in shares of Quest Diagnostics by 4.7% in the second quarter. BlackRock Group LTD now owns 1,251,488 shares of the company’s stock valued at $101,882,000 after buying an additional 56,294 shares during the period. Finally, Freestone Capital Holdings LLC increased its stake in shares of Quest Diagnostics by 3.9% in the second quarter. Freestone Capital Holdings LLC now owns 11,739 shares of the company’s stock valued at $956,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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