Q4 2016 EPS Estimates for Quest Diagnostics Inc. (DGX) Reduced by KeyCorp
Quest Diagnostics Inc. (NYSE:DGX) – Analysts at KeyCorp lowered their Q4 2016 earnings estimates for Quest Diagnostics in a research report issued to clients and investors on Monday. KeyCorp analyst D. Hooker now expects that the firm will earn $1.26 per share for the quarter, down from their previous forecast of $1.30. KeyCorp also issued estimates for Quest Diagnostics’ FY2017 earnings at $5.45 EPS.
Several other equities research analysts have also recently weighed in on DGX. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Jefferies Group increased their price objective on shares of Quest Diagnostics from $75.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday, July 22nd. Evercore ISI reiterated a “hold” rating and set a $89.50 price objective (up from $78.50) on shares of Quest Diagnostics in a research report on Sunday, July 24th. Mizuho cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $84.00 to $86.00 in a research report on Wednesday, August 31st. Finally, Citigroup Inc. started coverage on shares of Quest Diagnostics in a research report on Friday, September 9th. They set a “neutral” rating and a $86.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $83.14.
Quest Diagnostics (NYSE:DGX) opened at 84.69 on Wednesday. Quest Diagnostics has a 52-week low of $59.66 and a 52-week high of $86.85. The firm’s 50-day moving average is $82.97 and its 200 day moving average is $81.64. The firm has a market capitalization of $11.74 billion, a P/E ratio of 17.97 and a beta of 0.62.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, October 20th. The company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.53 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 14.57%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Tuesday, January 10th will be given a dividend of $0.45 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.04%.
In related news, Director Jenne K. Britell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $84.76, for a total transaction of $339,040.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altfest L J & Co. Inc. raised its position in Quest Diagnostics by 0.3% in the third quarter. Altfest L J & Co. Inc. now owns 18,823 shares of the company’s stock worth $1,593,000 after buying an additional 51 shares during the last quarter. Cookson Peirce & Co. Inc. raised its position in Quest Diagnostics by 209.1% in the third quarter. Cookson Peirce & Co. Inc. now owns 89,275 shares of the company’s stock worth $7,555,000 after buying an additional 60,395 shares during the last quarter. Credit Suisse AG raised its position in Quest Diagnostics by 175.0% in the third quarter. Credit Suisse AG now owns 564,076 shares of the company’s stock worth $47,738,000 after buying an additional 358,923 shares during the last quarter. Cognios Capital LLC raised its position in Quest Diagnostics by 1,605.7% in the third quarter. Cognios Capital LLC now owns 49,961 shares of the company’s stock worth $4,227,000 after buying an additional 47,032 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in Quest Diagnostics by 29.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 280,763 shares of the company’s stock worth $23,761,000 after buying an additional 63,277 shares during the last quarter. 90.86% of the stock is currently owned by institutional investors.
About Quest Diagnostics
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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