Earnings results might Drive Its Stock Price Quest Diagnostics (NYSE:DGX)

Earnings results for Quest Diagnostics (NYSE:DGX)

Quest Diagnostics Incorporated is expected* to report earnings on 07/22/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.87. The reported EPS for the same quarter last year was $1.42.

Quest Diagnostics last posted its earnings results on April 22nd, 2021. The medical research company reported $3.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.77 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Its revenue for the quarter was up 49.3% compared to the same quarter last year. Quest Diagnostics has generated $11.18 earnings per share over the last year and currently has a price-to-earnings ratio of 10.3. Quest Diagnostics has confirmed that its next quarterly earnings report will be published on Thursday, July 22nd, 2021. Quest Diagnostics will be holding an earnings conference call on Thursday, July 22nd at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 203-369-0162.

Analyst Opinion on Quest Diagnostics (NYSE:DGX)

9 Wall Street analysts have issued ratings and price targets for Quest Diagnostics in the last 12 months. Their average twelve-month price target is $145.75, predicting that the stock has a possible upside of 7.34%. The high price target for DGX is $158.00 and the low price target for DGX is $134.00. There are currently 3 hold ratings and 6 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Quest Diagnostics has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 6 buy ratings, 3 hold ratings, and no sell ratings. According to analysts’ consensus price target of $145.75, Quest Diagnostics has a forecasted upside of 7.3% from its current price of $135.78. Quest Diagnostics has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Quest Diagnostics (NYSE:DGX)

Quest Diagnostics pays a meaningful dividend of 1.82%, higher than the bottom 25% of all stocks that pay dividends. Quest Diagnostics has only been increasing its dividend for 1 years. The dividend payout ratio of Quest Diagnostics is 22.18%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Quest Diagnostics will have a dividend payout ratio of 31.12% next year. This indicates that Quest Diagnostics will be able to sustain or increase its dividend.

Insiders buying/selling: Quest Diagnostics (NYSE:DGX)

In the past three months, Quest Diagnostics insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $7,351,342.00 in company stock. Only 1.45% of the stock of Quest Diagnostics is held by insiders. 87.19% of the stock of Quest Diagnostics is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Quest Diagnostics (NYSE:DGX

Earnings for Quest Diagnostics are expected to decrease by -28.97% in the coming year, from $11.22 to $7.97 per share. The P/E ratio of Quest Diagnostics is 10.31, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 22.56. The P/E ratio of Quest Diagnostics is 10.31, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 39.96. Quest Diagnostics has a PEG Ratio of 0.46. PEG Ratios below 1 indicate that a company could be undervalued. Quest Diagnostics has a P/B Ratio of 2.69. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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