Analysts Expect Quest Diagnostics Inc (NYSE:DGX) Will Post Quarterly Sales of $1.40 Billion

Brokerages expect that Quest Diagnostics Inc (NYSE:DGX) will announce $1.40 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Quest Diagnostics’ earnings. The highest sales estimate is $1.50 billion and the lowest is $1.33 billion. Quest Diagnostics posted sales of $1.95 billion in the same quarter last year, which would indicate a negative year over year growth rate of 28.2%. The firm is scheduled to report its next earnings report on Tuesday, July 28th.

On average, analysts expect that Quest Diagnostics will report full-year sales of $7.50 billion for the current fiscal year, with estimates ranging from $7.19 billion to $7.90 billion. For the next fiscal year, analysts anticipate that the business will report sales of $8.04 billion, with estimates ranging from $7.50 billion to $8.34 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Quest Diagnostics.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Quest Diagnostics had a return on equity of 14.79% and a net margin of 10.36%. Quest Diagnostics’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 earnings per share.

A number of equities research analysts have commented on the company. Barclays raised their price objective on Quest Diagnostics from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Bank of America raised their price objective on Quest Diagnostics from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Morgan Stanley raised their price objective on Quest Diagnostics from $139.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Mizuho decreased their price objective on Quest Diagnostics from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on Quest Diagnostics from $87.00 to $111.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $111.28.

DGX traded down $0.16 during trading on Monday, reaching $112.83. The company had a trading volume of 770,390 shares, compared to its average volume of 1,745,866. The firm’s 50-day simple moving average is $101.90 and its 200 day simple moving average is $103.46. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 3.11 and a beta of 1.39. Quest Diagnostics has a 12-month low of $73.02 and a 12-month high of $125.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.27 and a current ratio of 1.38.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, July 7th. Quest Diagnostics’s dividend payout ratio is presently 34.15%.

In related news, CEO Stephen H. Rusckowski sold 11,717 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $112.01, for a total value of $1,312,421.17. Following the sale, the chief executive officer now owns 249,464 shares of the company’s stock, valued at approximately $27,942,462.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen H. Rusckowski sold 230,178 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $112.67, for a total value of $25,934,155.26. Following the completion of the sale, the chief executive officer now directly owns 456,738 shares in the company, valued at approximately $51,460,670.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,476 shares of company stock worth $28,656,119. 1.49% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Quest Diagnostics by 2.7% during the first quarter. State Street Corp now owns 6,818,798 shares of the medical research company’s stock worth $547,549,000 after buying an additional 179,263 shares in the last quarter. Fiduciary Management Inc. WI increased its stake in shares of Quest Diagnostics by 1.5% during the first quarter. Fiduciary Management Inc. WI now owns 4,658,167 shares of the medical research company’s stock worth $374,051,000 after purchasing an additional 68,125 shares during the period. Victory Capital Management Inc. increased its stake in shares of Quest Diagnostics by 5.6% during the fourth quarter. Victory Capital Management Inc. now owns 4,029,489 shares of the medical research company’s stock worth $430,308,000 after purchasing an additional 212,706 shares during the period. Marshall Wace North America L.P. increased its stake in shares of Quest Diagnostics by 10.5% during the fourth quarter. Marshall Wace North America L.P. now owns 2,272,439 shares of the medical research company’s stock worth $242,672,000 after purchasing an additional 216,327 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Quest Diagnostics by 1.0% during the first quarter. Geode Capital Management LLC now owns 2,202,432 shares of the medical research company’s stock worth $176,572,000 after purchasing an additional 21,634 shares during the period. 89.01% of the stock is currently owned by institutional investors.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Earnings History and Estimates for Quest Diagnostics (NYSE:DGX)

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