Quest Diagnostics Incorporated [DGX]: What to Expect when It Reports Earnings

Earnings from Quest Diagnostics Incorporated [DGX] are scheduled on April 22, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.


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DGX Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $3.71 per share on revenue of $2.64B. Taking a look at the future, the company is projected to report revenue of $2.42B at an earnings per share of $2.93 for the Jun 2021 quarter. The estimates represent year-over-year improvements of -10.20% in revenue and -28.34% in earnings per share for the company.

DGX Stock Earnings Forecast For The Current Year

For the full financial year, Quest Diagnostics Incorporated [NYSE:DGX] is forecasted to generate revenue of $9.46B. The figure is about $20.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $11.13 in 2021, which is -$0.05 lower than the figure in FY20. Based on current estimates, earnings are expected to grow -0.40% this year, -28.20% next year, and 9.22% annually over the next five years. With regard to sales, forecasts suggest an incline of 0.20% in current fiscal year and -10.20% over following year.

DGX Stock Price Performance

At the close of Wednesday’s session, Quest Diagnostics Incorporated [NYSE:DGX] finished up 0.50% at $130.02. The stock’s highest single-day price was $130.67, and its lowest was $129.22. Its price rose 2.10% in the last five days. Since the beginning of the year, Quest Diagnostics Incorporated’s shares are up nearly 9.10%. However, the share price is -3.48% below its one year high. The top price reached by the shares of the company was $134.71 on 02/01/21, while the 52-week low came on 02/23/21, when the shares were $113.36. In the past year, shares of the company have risen 37.65%. At 50 days, the moving average achieved is $123.82 while at 200 days, the moving average is $121.68. There were 1.17 million shares traded in the last session, up from 1.03 million in the previous session.

Quest Diagnostics Incorporated [NYSE:DGX] Stock Valuation Metrics

With a prevailing 12-month PE ratio of 12.44, Quest Diagnostics Incorporated [DGX] does qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a discount to the industry average of 34.14 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.79 PS value ratio is reported for the last one year of reported earnings. This is below the average return 6.55 for the industry, which means DGX offers an attractive investment opportunity than its competitors do.

DGX Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 130.02 level, and the violation of this level will cause a further drop to 129.27 level. At the upper end, 132.17 remains a key resistance. As the stock increases, it may find resistance at 131.42. In the 14-day chart, the Relative Strength Index standing at 59.33 suggests a technical neutral stance while the MACD standing at 1.35 indicates price will increase in the next trading period. Stochastic %K at 68.24% suggests holding the stock while Percent R indicator at 33.89% suggests low price movement.

How much is the short interest in Quest Diagnostics Incorporated?

There have been a drop in short interest in the Quest Diagnostics Incorporated Financial stock, with short interest up by 0.49 million shares to 3.36 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 3.85 million shares. This -14.58% decrease suggests some bullish sentiment was experienced by the stock. Shorted shares accounted for just 3.31% of the overall float in the stock, while the stock’s days to cover moved to 3.12.

How do analysts view Quest Diagnostics Incorporated?

In regard to the share price forecast for Quest Diagnostics Incorporated stock, the analysts, as surveyed by FactSet, forecast the price to reach $140.00 in the next twelve months, representing almost an 7.13% growth from its recent price of $130.02. Among Quest Diagnostics Incorporated stock projections, $158.00 is the highest analyst target for the stock, while $125.00 is the lowest. Despite this, 19 analysts who share their consensus rating for DGX in 2021 agree that the stock is an Overweight. The latest rating change took place on 3/12/21, when Morgan Stanley Ratings launched coverage of the stock at “Equal-Weight” and assigned a price target of $136.0.

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