Zoetis (NYSE:ZTS) Issues Earnings Results

Zoetis (NYSE:ZTS) released its quarterly earnings data on Tuesday. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07, Briefing.com reports. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.47%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company 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 Trading Up 1.9 %

ZTS opened at $188.30 on Friday. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. Zoetis has a twelve month low of $144.80 and a twelve month high of $201.92. The stock has a market capitalization of $85.92 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 2.85 and a beta of 0.86. The company has a 50-day simple moving average of $176.47 and a 200 day simple moving average of $175.51.

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 paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is presently 33.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZTS. BTIG Research began coverage on Zoetis in a report on Thursday, July 25th. They set a “buy” rating and a $220.00 price objective for the company. Barclays reduced their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note 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 research report on Monday, May 6th. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Finally, HSBC decreased their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average target price of $214.89.

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.