Quest Diagnostics (DGX) Set to Announce Earnings on Tuesday

Quest Diagnostics (NYSE:DGX) will issue its quarterly earnings data before the market opens on Tuesday, October 22nd. Analysts expect Quest Diagnostics to post earnings of $2.27 per share for the quarter. Quest Diagnostics has set its FY 2024 guidance at 8.800-9.000 EPS and its FY24 guidance at $8.80-9.00 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 EPS. On average, analysts expect Quest Diagnostics to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $149.65 on Friday. Quest Diagnostics has a 12 month low of $120.87 and a 12 month high of $159.36. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a market cap of $16.62 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.45 and a beta of 0.89. The business’s 50 day moving average is $152.67 and its two-hundred day moving average is $144.01.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s payout ratio is currently 40.38%.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

DGX has been the subject of several research reports. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. Robert W. Baird boosted their price objective on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Truist Financial raised their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler lifted their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $154.92.

About Quest Diagnostics

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