Leerink Partnrs Estimates Zoetis’ FY2024 Earnings (NYSE:ZTS)

Zoetis Inc. (NYSE:ZTS) – Stock analysts at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for Zoetis in a note issued to investors on Thursday, January 16th. Leerink Partnrs analyst D. Clark now forecasts that the company will post earnings of $5.94 per share for the year, down from their prior forecast of $5.96. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Zoetis’ current full-year earnings is $5.91 per share. Leerink Partnrs also issued estimates for Zoetis’ Q4 2024 earnings at $1.42 EPS, Q1 2025 earnings at $1.49 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.56 EPS, FY2025 earnings at $6.44 EPS, FY2026 earnings at $7.14 EPS, FY2027 earnings at $7.77 EPS and FY2028 earnings at $8.43 EPS.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. UBS Group started coverage on Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target for the company. Finally, Leerink Partners began coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective on the stock. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $211.89.

Zoetis Stock Up 1.3 %

Shares of NYSE ZTS opened at $169.30 on Friday. The company has a market cap of $76.38 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.51 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis has a 12 month low of $144.80 and a 12 month high of $200.53. The stock has a 50-day moving average price of $171.25 and a two-hundred day moving average price of $180.07.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the company posted $1.36 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZTS. Atomi Financial Group Inc. raised its position in shares of Zoetis by 10.4% during the fourth quarter. Atomi Financial Group Inc. now owns 6,651 shares of the company’s stock worth $1,084,000 after acquiring an additional 626 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in Zoetis by 0.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 26,404 shares of the company’s stock valued at $4,302,000 after purchasing an additional 75 shares during the period. Segment Wealth Management LLC raised its holdings in Zoetis by 0.9% during the 4th quarter. Segment Wealth Management LLC now owns 75,320 shares of the company’s stock worth $12,272,000 after purchasing an additional 654 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Zoetis by 13.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 36,936 shares of the company’s stock worth $6,018,000 after purchasing an additional 4,248 shares during the period. Finally, Ballentine Partners LLC boosted its stake in shares of Zoetis by 3.0% in the 4th quarter. Ballentine Partners LLC now owns 12,151 shares of the company’s stock valued at $1,980,000 after purchasing an additional 357 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. This is an increase from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, January 21st. Zoetis’s dividend payout ratio is presently 32.52%.

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.