Quest Diagnostics Incorporated Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Quest Diagnostics Incorporated (NYSE:DGX) will unveil its latest earnings on Wednesday, July 20, 2011. Quest Diagnostics, Inc. provides diagnostic testing, information and services to patients, physicians and others.

Quest Diagnostics Incorporated Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.12 per share, a rise of 4.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.18. Between one and three months ago, the average estimate moved down, but it has been unchanged at $1.12 during the last month. For the year, analysts are projecting net income of $4.33 per share, a rise of 6.1% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by one cent, reporting profit of $1 per share against a mean estimate of net income of 99 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $1.91 billion in revenue this quarter, a rise of 2.1% from the year ago quarter. Analysts are forecasting total revenue of $7.56 billion for the year, a rise of 2.6% from last year’s revenue of $7.37 billion.

Analyst Ratings: Analysts seem relatively indifferent about Quest Diagnostics Incorporated with 13 of 21 analysts surveyed maintaining a hold rating.

Key Stats:

A year-over-year revenue increase in the first quarter snaps a streak of three consecutive quarters of revenue declines. Revenue rose 0.9% in the first quarter and fell 1.3% in the fourth quarter of the last fiscal year, 1.7% in the third quarter of the last fiscal year and 1.4% in the second quarter of the last fiscal year.

Quest Diagnostics Incorporated’s loss in the latest quarter follows profits in the previous three quarters. The company reported a loss of of $53.9 million in the first quarter, a profit of $165.8 million in the fourth quarter of the last fiscal year, a profit of $198.1 million in the third of the last fiscal year and a profit of $194.6 million in the second quarter of the last fiscal year.

Competitors to Watch: Laboratory Corp. of America Hldgs. (NYSE:LH), Clarient, Inc. (NASDAQ:CLRT), Psychemedics Corp. (NASDAQ:PMD), Bio-Reference Laboratories, Inc. (NASDAQ:BRLI), MEDTOX Scientific, Inc. (NASDAQ:MTOX), Celera Corporation (NASDAQ:CRA), Enzo Biochem, Inc. (NYSE:ENZ), Orchid Cellmark, Inc. (NASDAQ:ORCH), Interleukin Genetics, Inc (ILIU), and RadNet Inc. (NASDAQ:RDNT).

Stock Price Performance: During July 8, 2011 to July 14, 2011, the stock price had dropped $1.61 (-2.7%) from $59.61 to $58. The stock price saw one of its best stretches over the last year between December 13, 2010 and December 22, 2010 when shares rose for eight-straight days, rising 7.1% (+$3.58) over that span. It saw one of its worst periods between July 7, 2011 and July 14, 2011 when shares fell for six-straight days, falling 4.3% (-$2.59) over that span. Shares are up $4.31 (+8%) year to date.

(Source: Xignite Financials)

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