Zoetis (NYSE:ZTS) Issues Earnings Results, Beats Estimates By $0.12 EPS

Zoetis (NYSE:ZTS) released its quarterly earnings results on Monday. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12, Briefing.com reports. The firm had revenue of $2.40 billion for 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 firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. Zoetis updated its FY 2024 guidance to 5.860-5.920 EPS and its FY24 guidance to $5.86-$5.92 EPS.

Zoetis Price Performance

Zoetis stock traded down $0.84 during mid-day trading on Tuesday, hitting $174.34. 194,038 shares of the company were exchanged, compared to its average volume of 2,505,168. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The business’s 50 day simple moving average is $188.84 and its two-hundred day simple moving average is $179.03. The company has a market capitalization of $78.98 billion, a P/E ratio of 34.28, a PEG ratio of 2.82 and a beta of 0.90. Zoetis has a 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis Dividend Announcement

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

Analyst Upgrades and Downgrades

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