Quest Diagnostics (NYSE:DGX) Issues FY 2024 Earnings Guidance

by · The Cerbat Gem

Quest Diagnostics (NYSE:DGX – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 8.850-8.950 for the period, compared to the consensus earnings per share estimate of 8.850. The company issued revenue guidance of $9.8 billion-$9.9 billion, compared to the consensus revenue estimate of $9.7 billion. Quest Diagnostics also updated its FY24 guidance to $8.85-$8.95 EPS.

Quest Diagnostics Stock Performance

DGX traded up $2.09 during trading on Thursday, reaching $159.21. 66,493 shares of the company’s stock were exchanged, compared to its average volume of 920,621. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. Quest Diagnostics has a 1 year low of $121.60 and a 1 year high of $159.94. The company’s fifty day simple moving average is $152.88 and its 200-day simple moving average is $144.48. The stock has a market capitalization of $17.69 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $2.22 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Quest Diagnostics will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, October 4th. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DGX shares. Truist Financial lifted their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a report on Monday, October 7th. Barclays lifted their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a report on Wednesday. StockNews.com cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday. UBS Group boosted their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Citigroup raised their price objective on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $163.33.

Check Out Our Latest Stock Report on Quest Diagnostics

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.79% of the stock is currently owned by corporate insiders.

About Quest Diagnostics

(Get Free Report)

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.

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