Zoetis (NYSE:ZTS) Releases FY24 Earnings Guidance

Zoetis (NYSE:ZTS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.78-5.88 for the period, compared to the consensus EPS estimate of $5.77. The company issued revenue guidance of $9.10-9.25 billion, compared to the consensus revenue estimate of $9.14 billion. Zoetis also updated its FY 2024 guidance to 5.780-5.880 EPS.

Wall Street Analyst Weigh In

ZTS has been the subject of several research reports. Stifel Nicolaus raised their price target on shares of Zoetis from $180.00 to $200.00 and gave the stock a buy rating in a report on Monday. The Goldman Sachs Group cut their price objective on Zoetis from $223.00 to $196.00 and set a buy rating for the company in a report on Monday, May 6th. HSBC dropped their target price on Zoetis from $230.00 to $225.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. BTIG Research assumed coverage on Zoetis in a report on Thursday, July 25th. They issued a buy rating and a $220.00 price objective on the stock. Finally, Piper Sandler reaffirmed an overweight rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $214.89.

Zoetis Trading Up 0.0 %

Shares of Zoetis stock traded up $0.05 during trading on Wednesday, hitting $185.34. 1,221,090 shares of the company were exchanged, compared to its average volume of 2,797,964. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The firm has a market capitalization of $84.57 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 2.80 and a beta of 0.86. The firm’s fifty day moving average price is $175.81 and its 200 day moving average price is $175.36. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Zoetis will post 5.76 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 0.93%. Zoetis’s dividend payout ratio (DPR) is currently 33.33%.

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.