Quest Diagnostics (NYSE:DGX) Updates FY22 Earnings Guidance

Quest Diagnostics (NYSE:DGX) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided EPS guidance of above $8.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.56. The company issued revenue guidance of $8.5 billion, compared to the consensus revenue estimate of $8.98 billion.Quest Diagnostics also updated its Q4 guidance to $3.33 EPS.

Quest Diagnostics stock opened at $142.30 on Friday. Quest Diagnostics has a 52-week low of $113.36 and a 52-week high of $174.16. The company has a market cap of $17.46 billion, a price-to-earnings ratio of 8.55 and a beta of 1.03. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $157.28 and its 200 day moving average is $149.44.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Wednesday, October 20th. The medical research company reported $3.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.88 by $1.08. Quest Diagnostics had a net margin of 19.77% and a return on equity of 31.20%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm posted $4.31 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that Quest Diagnostics will post 14.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 2nd. Stockholders of record on Wednesday, January 19th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, January 18th. Quest Diagnostics’s dividend payout ratio is currently 14.89%.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Quest Diagnostics from a hold rating to a buy rating and set a $158.00 price objective for the company in a research report on Tuesday, September 28th. Wells Fargo & Company boosted their price target on shares of Quest Diagnostics from $150.00 to $160.00 and gave the stock an equal weight rating in a research note on Tuesday, December 14th. Deutsche Bank Aktiengesellschaft increased their price objective on Quest Diagnostics from $160.00 to $190.00 in a report on Monday, January 10th. Robert W. Baird cut their price objective on Quest Diagnostics from $173.00 to $162.00 in a research report on Thursday. Finally, KeyCorp raised their price target on Quest Diagnostics from $168.00 to $170.00 and gave the company an overweight rating in a research report on Monday, December 13th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $165.69.

In other news, SVP Catherine T. Doherty sold 37,565 shares of the company’s stock in a transaction dated Monday, November 29th. The stock was sold at an average price of $156.81, for a total transaction of $5,890,567.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.45% of the company’s stock.

About Quest Diagnostics

Quest Diagnostics, Inc engages in the provision of diagnostic testing, information and services. It operates through the Diagnostic Information Services (DIS) and All Other segments. The DIS segment offers diagnostic information services to patients, clinicians, hospitals, health plans, and employers.

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Earnings History and Estimates for Quest Diagnostics (NYSE:DGX)

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