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Source: Pixabay, Quest Diagnostics

Will Quest Diagnostics Post Strong Q3 Earnings?

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More than 80 S&P 500 companies are releasing their quarterly earnings this week. When does Quest Diagnostics report its earnings? What do analysts expect from the New Jersey-based company?  

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Source: Pixabay

What is Quest Diagnostics?

Quest Diagnostics is the leading global provider of diagnostic testing services. Apart from diagnostic services, the company provides clinical trial testing, which launched in 2015. Quest Diagnostics also provides technology solutions to more than 200,000 physicians. The company has wellness and risk management solutions that help employers improve workers’ health and reduce the use of illegal drugs in the workspace.

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Quest Diagnostics has 45,000 employees and serves one in three U.S. adults every year. Apart from the U.S., where the company has almost 2,000 patient locations, it also has operations in Mexico, Ireland, and India.

Quest Diagnostics' earnings date and time

Quest Diagnostics will likely release its third-quarter earnings on Oct. 22 at 6:45 a.m. ET. The company will hold the earnings conference call at 8:30 a.m. ET. Analysts polled by Tikr expect Quest Diagnostics to report revenues of $2.7 billion in the third quarter—a YoY rise of 38.9 percent. The company's revenues fell by 5.6 percent and 3.6 percent in the second and first quarters, respectively.

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Analysts expect Quest Diagnostics to report an adjusted EPS of $3.75 in the third quarter, which is a 113 percent increase from the same quarter last year. The fourth-quarter adjusted EPS is also expected to rise 59 percent YoY.

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Source: Pixabay
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What is Quest Diagnostics' stock price today?

Quest Diagnostics stock was trading slightly down at $120.50 in premarket on Tuesday, Oct. 20. However, futures point to a positive opening for U.S. stock markets amid optimism about stimulus talks. So far, Quest Diagnostics stock has gained 13.1 percent in 2020 and has outperformed the S&P 500.

Quest Diagnostics’ dividend

Quest Diagnostics has declared three dividends of $0.56 in 2020. Two of the dividends were paid to eligible shareholders, while the third dividend had a record date of Oct. 6 and will be paid on Oct. 21. The stock’s annualized dividend yield is 1.8 percent based on its current dividend payout.

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Quest Diagnostics' stock forecast

According to estimates compiled by CNN, Quest Diagnostics has a median target price of $144, which is a premium of 19.2 percent over the current stock prices. The company's highest target price of $159 is 32 percent above current prices, while its lowest target price of $124 represents a potential upside of 2.7 percent over the next 12 months.

Among the 18 analysts covering Quest Diagnostics, 12 have a buy or higher rating, while six have a hold rating. None of the analysts have a sell rating on the stock.

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