William Blair Weighs in on Quest Diagnostics Inc.’s FY2017 Earnings (DGX)
Quest Diagnostics Inc. (NYSE:DGX) – Stock analysts at William Blair boosted their FY2017 earnings estimates for Quest Diagnostics in a research report issued on Thursday. William Blair analyst A. Murphy now forecasts that the brokerage will post earnings of $5.43 per share for the year, up from their prior forecast of $5.42.
A number of other equities analysts also recently issued reports on the company. Citigroup Inc. started coverage on Quest Diagnostics in a research note on Friday, September 9th. They issued a “neutral” rating and a $86.00 price target on the stock. Jefferies Group raised their price target on Quest Diagnostics from $75.00 to $86.00 and gave the stock a “hold” rating in a research note on Friday, July 22nd. Mizuho downgraded Quest Diagnostics from a “buy” rating to a “neutral” rating and raised their price target for the stock from $84.00 to $86.00 in a research note on Wednesday, August 31st. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, September 21st. Finally, Canaccord Genuity set a $90.00 price target on Quest Diagnostics and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.14.
Shares of Quest Diagnostics (NYSE:DGX) traded up 0.16% during trading on Friday, reaching $85.93. The company’s stock had a trading volume of 775,986 shares. The company has a market cap of $11.91 billion, a PE ratio of 18.24 and a beta of 0.62. The company has a 50 day moving average of $82.99 and a 200 day moving average of $81.67. Quest Diagnostics has a 12-month low of $59.66 and a 12-month high of $86.85.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 20th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.02. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.53 billion. Quest Diagnostics had a return on equity of 14.57% and a net margin of 9.01%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS.
A number of large investors have recently modified their holdings of the company. Financial Architects Inc boosted its stake in shares of 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 bought a new stake in shares of Quest Diagnostics during the third quarter valued at $130,000. Pinkerton Retirement Specialists LLC boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Tuesday, January 10th will be paid a dividend of $0.45 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.10%. Quest Diagnostics’s payout ratio is presently 34.04%.
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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