Quest Diagnostics Inc. (DGX) Forecasted to Earn Q1 2017 Earnings of $1.21 Per Share
Quest Diagnostics Inc. (NYSE:DGX) – Investment analysts at KeyCorp reduced their Q1 2017 earnings per share estimates for shares of Quest Diagnostics in a research note issued on Monday. KeyCorp analyst D. Hooker now anticipates that the brokerage will post earnings per share of $1.21 for the quarter, down from their previous estimate of $1.26. KeyCorp also issued estimates for Quest Diagnostics’ Q2 2017 earnings at $1.43 EPS, Q3 2017 earnings at $1.42 EPS, Q4 2017 earnings at $1.39 EPS and FY2018 earnings at $5.68 EPS.
A number of other brokerages have also recently weighed in on DGX. Barclays PLC set a $85.00 price objective on shares of Quest Diagnostics and gave the stock a “hold” rating in a research note on Monday. Canaccord Genuity set a $90.00 target price on shares of Quest Diagnostics and gave the stock a “buy” rating in a research report on Monday. Evercore ISI reaffirmed a “hold” rating and set a $89.50 target price (up previously from $78.50) on shares of Quest Diagnostics in a research report on Sunday, July 24th. Mizuho boosted their target price on shares of Quest Diagnostics from $86.00 to $88.00 and gave the stock a “neutral” rating in a research report on Friday, October 21st. 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 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Quest Diagnostics currently has an average rating of “Hold” and a consensus target price of $83.14.
Shares of Quest Diagnostics (NYSE:DGX) traded up 1.03% during mid-day trading on Thursday, reaching $85.56. 670,277 shares of the company traded hands. The stock’s 50 day moving average is $82.97 and its 200 day moving average is $81.64. The stock has a market capitalization of $11.86 billion, a PE ratio of 18.16 and a beta of 0.62. Quest Diagnostics has a 52-week low of $59.66 and a 52-week high of $86.85.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, October 20th. The company reported $1.37 earnings per share for the quarter, beating 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%. Quest Diagnostics’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Tuesday, January 10th will be issued a $0.45 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.13%. Quest Diagnostics’s dividend payout ratio is presently 34.04%.
In other news, Director Jenne K. Britell sold 4,000 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $84.76, for a total value of $339,040.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of DGX. Financial Architects Inc raised its stake in Quest Diagnostics by 6.4% in the second quarter. Financial Architects Inc now owns 1,476 shares of the company’s stock valued at $120,000 after buying an additional 89 shares during the last quarter. TLP Group LLC purchased a new stake in Quest Diagnostics during the third quarter valued at $130,000. Pinkerton Retirement Specialists LLC raised its stake in Quest Diagnostics by 792.4% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,651 shares of the company’s stock valued at $134,000 after buying an additional 1,466 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in Quest Diagnostics by 10.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,869 shares of the company’s stock valued at $152,000 after buying an additional 176 shares during the last quarter. Finally, Creative Planning raised its stake in Quest Diagnostics by 13.5% in the second quarter. Creative Planning now owns 1,972 shares of the company’s stock valued at $161,000 after buying an additional 234 shares during the last quarter. 90.86% of the stock is currently owned by institutional investors and hedge funds.
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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