Quest Diagnostics (NYSE:DGX) Updates FY20 Earnings Guidance

Quest Diagnostics (NYSE:DGX) updated its FY20 earnings guidance on Thursday. The company provided earnings per share guidance of $7.50-9.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.03. The company issued revenue guidance of $8.4-8.8 billion, compared to the consensus revenue estimate of $8.55 billion.Quest Diagnostics also updated its FY 2020
Pre-Market guidance to 7.50-9.00 EPS.

A number of research firms recently commented on DGX. Credit Suisse Group raised their price objective on shares of Quest Diagnostics from $126.00 to $128.00 and gave the stock a neutral rating in a research note on Tuesday, July 14th. Zacks Investment Research downgraded shares of Quest Diagnostics from a strong-buy rating to a hold rating and set a $130.00 target price for the company. in a research report on Tuesday, July 28th. Wells Fargo & Company upgraded shares of Quest Diagnostics from an underweight rating to an equal weight rating and increased their target price for the stock from $90.00 to $120.00 in a research report on Tuesday, June 9th. Bank of America upgraded shares of Quest Diagnostics from a neutral rating to a buy rating and set a $142.00 target price for the company in a research report on Tuesday, July 14th. Finally, BofA Securities upgraded shares of Quest Diagnostics from a neutral rating to a buy rating and set a $142.00 target price for the company in a research report on Tuesday, July 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $125.78.

Shares of DGX opened at $110.33 on Friday. The company has a market capitalization of $14.82 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 0.84 and a beta of 1.28. The company’s fifty day moving average price is $118.82 and its 200 day moving average price is $108.97. Quest Diagnostics has a one year low of $73.02 and a one year high of $131.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 1.21.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, July 23rd. The medical research company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.01. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.81 billion. Quest Diagnostics had a net margin of 9.99% and a return on equity of 13.78%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. Analysts anticipate that Quest Diagnostics will post 8.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Tuesday, October 6th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, October 5th. Quest Diagnostics’s payout ratio is presently 34.15%.

In related news, SVP Catherine T. Doherty sold 58,392 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $110.60, for a total value of $6,458,155.20. Following the transaction, the senior vice president now directly owns 126,803 shares in the company, valued at $14,024,411.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.49% of the stock is owned by corporate insiders.

About Quest Diagnostics

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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