Zoetis (NYSE:ZTS) Posts Earnings Results, Beats Expectations By $0.12 EPS

Zoetis (NYSE:ZTS) announced its quarterly earnings data on Monday. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12, Briefing.com reports. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. Zoetis updated its FY 2024 guidance to 5.860-5.920 EPS and its FY24 guidance to $5.86-$5.92 EPS.

Zoetis Stock Down 0.5 %

Shares of NYSE:ZTS traded down $0.84 during trading on Tuesday, hitting $174.34. The company’s stock had a trading volume of 194,038 shares, compared to its average volume of 2,505,168. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The stock’s 50-day moving average price is $188.84 and its two-hundred day moving average price is $179.03. The company has a market capitalization of $78.98 billion, a PE ratio of 34.28, a PEG ratio of 2.82 and a beta of 0.90.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $221.44.

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.