Zoetis (NYSE:ZTS) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Zoetis (NYSE:ZTS) issued its earnings results on Tuesday. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07, Briefing.com reports. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. Zoetis updated its FY24 guidance to $5.78-5.88 EPS and its FY 2024 guidance to 5.780-5.880 EPS.

Zoetis Stock Performance

Zoetis stock traded up $0.44 during trading hours on Wednesday, reaching $185.73. 1,391,919 shares of the stock were exchanged, compared to its average volume of 2,799,095. The stock has a market cap of $84.75 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.80 and a beta of 0.86. The firm’s 50 day moving average is $175.81 and its 200 day moving average is $175.36. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. Zoetis has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ZTS. Stifel Nicolaus raised their target price on shares of Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. The Goldman Sachs Group lowered their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, BTIG Research assumed coverage on Zoetis in a report on Thursday, July 25th. They set a “buy” rating and a $220.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $214.89.

Zoetis Company Profile

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.