Quest Diagnostics (NYSE:DGX) Issues FY20 Earnings Guidance

Quest Diagnostics (NYSE:DGX) updated its FY20 earnings guidance on Wednesday. The company provided EPS guidance of at least $10.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $9.90. The company issued revenue guidance of at least 9.35 billion, compared to the consensus revenue estimate of $9.08 billion.Quest Diagnostics also updated its FY 2020
Pre-Market guidance to 10.75 EPS.

Several analysts recently weighed in on the stock. Argus upgraded shares of Quest Diagnostics from a hold rating to a buy rating and set a $135.00 price objective on the stock in a research report on Wednesday, October 21st. ValuEngine cut shares of Quest Diagnostics from a sell rating to a strong sell rating in a research note on Wednesday, November 11th. Mizuho raised their target price on shares of Quest Diagnostics from $144.00 to $149.00 and gave the company a buy rating in a research note on Monday, October 26th. Jefferies Financial Group raised their target price on shares of Quest Diagnostics from $125.00 to $134.00 and gave the company a buy rating in a research note on Wednesday, October 14th. Finally, Zacks Investment Research raised shares of Quest Diagnostics from a hold rating to a strong-buy rating and set a $130.00 target price on the stock in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $126.83.

Quest Diagnostics stock opened at $120.98 on Thursday. The firm’s 50 day simple moving average is $123.92 and its 200-day simple moving average is $118.83. The company has a market cap of $16.30 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.40 and a quick ratio of 1.32. Quest Diagnostics has a fifty-two week low of $73.02 and a fifty-two week high of $131.81.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 22nd. The medical research company reported $4.31 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.56. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.71 billion. Quest Diagnostics had a net margin of 13.22% and a return on equity of 19.23%. The firm’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share. On average, analysts expect that Quest Diagnostics will post 10.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 3rd. Shareholders of record on Wednesday, January 20th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, January 19th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.15%.

In other Quest Diagnostics news, CEO Stephen H. Rusckowski sold 291,997 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $120.00, for a total value of $35,039,640.00. Following the sale, the chief executive officer now owns 529,744 shares of the company’s stock, valued at approximately $63,569,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael J. Deppe sold 10,450 shares of the business’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $125.00, for a total transaction of $1,306,250.00. Following the completion of the sale, the chief accounting officer now directly owns 29,785 shares in the company, valued at approximately $3,723,125. The disclosure for this sale can be found here. Insiders sold 349,261 shares of company stock valued at $41,998,684 over the last 90 days. 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 information 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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