Quest Diagnostics (NYSE:DGX) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Quest Diagnostics (NYSE:DGX) issued its quarterly earnings data on Tuesday. The medical research company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.05, RTT News reports. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a net margin of 9.64% and a return on equity of 15.05%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share. Quest Diagnostics updated its FY 2019 guidance to $5.48-5.53 EPS and its FY19 guidance to $6.45-6.50 EPS.

Quest Diagnostics stock traded down $1.23 during trading hours on Tuesday, reaching $101.05. 315,033 shares of the stock were exchanged, compared to its average volume of 827,862. The company has a market cap of $13.83 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Quest Diagnostics has a twelve month low of $78.95 and a twelve month high of $107.97. The stock has a 50 day moving average of $104.57 and a two-hundred day moving average of $99.93.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 2.10%. Quest Diagnostics’s payout ratio is 33.60%.

A number of equities analysts recently commented on DGX shares. Evercore ISI reaffirmed a “buy” rating and set a $108.00 price target on shares of Quest Diagnostics in a research report on Thursday, August 8th. Goldman Sachs Group lowered shares of Quest Diagnostics from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $90.00 to $85.00 in a research report on Monday, July 15th. UBS Group lowered their price target on shares of Quest Diagnostics from $103.00 to $102.00 and set a “neutral” rating on the stock in a research report on Monday. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price target on the stock in a research report on Monday, September 30th. Finally, Canaccord Genuity raised their price target on shares of Quest Diagnostics from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $105.25.

In other Quest Diagnostics news, CAO Michael J. Deppe sold 5,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the sale, the chief accounting officer now directly owns 28,671 shares in the company, valued at $3,039,126. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.86% of the company’s stock.

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 for Quest Diagnostics (NYSE:DGX)

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