Zoetis (NYSE:ZTS) Releases Earnings Results

Zoetis (NYSE:ZTS) announced its quarterly earnings results on Monday. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12, Briefing.com reports. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the company posted $1.36 earnings per share. Zoetis’s revenue for the quarter was up 11.6% on a year-over-year basis. Zoetis updated its FY 2024 guidance to 5.860-5.920 EPS and its FY24 guidance to $5.86-$5.92 EPS.

Zoetis Stock Down 1.2 %

Shares of NYSE ZTS opened at $173.07 on Tuesday. The stock has a market cap of $78.41 billion, a PE ratio of 34.28, a P/E/G ratio of 2.82 and a beta of 0.90. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a 50-day moving average of $188.84 and a 200 day moving average of $179.03.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 1.00%. Zoetis’s payout ratio is presently 33.86%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZTS. Piper Sandler increased their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus increased their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target of $221.44.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.