Zoetis (NYSE:ZTS) Issues Earnings Results, Beats Estimates By $0.04 EPS

Zoetis (NYSE:ZTS) announced its quarterly earnings results on Thursday. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04, RTT News reports. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.74%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 earnings per share. Zoetis updated its FY24 guidance to $5.71-5.81 EPS.

Zoetis Trading Down 0.1 %

NYSE:ZTS opened at $167.07 on Friday. Zoetis has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The stock’s 50 day simple moving average is $168.88 and its 200-day simple moving average is $178.84. The firm has a market cap of $76.41 billion, a P/E ratio of 32.19, a PEG ratio of 2.61 and a beta of 0.86.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a yield of 1.03%. Zoetis’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZTS. Stifel Nicolaus dropped their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Piper Sandler reiterated 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. The Goldman Sachs Group boosted their target price on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays dropped their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Finally, StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $216.13.

Insider Buying and Selling

In other news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the sale, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 2,209 shares of company stock valued at $371,293 over the last three months. 0.16% of the stock is currently owned by company insiders.

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.