Zoetis (NYSE:ZTS) Updates FY24 Earnings Guidance

by · The Markets Daily

Zoetis (NYSE:ZTS – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.86-$5.92 for the period, compared to the consensus estimate of $5.83. The company issued revenue guidance of $9.20-$9.30 billion, compared to the consensus revenue estimate of $9.20 billion. Zoetis also updated its FY 2024 guidance to 5.860-5.920 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ZTS shares. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus increased their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. BTIG Research increased their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price of $221.44.

Check Out Our Latest Analysis on ZTS

Zoetis Stock Down 4.3 %

Shares of ZTS traded down $7.81 during trading hours on Monday, hitting $174.14. The company had a trading volume of 1,632,041 shares, compared to its average volume of 2,503,611. The firm has a fifty day moving average price of $188.97 and a 200-day moving average price of $178.87. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The stock has a market capitalization of $78.89 billion, a price-to-earnings ratio of 35.61, a P/E/G ratio of 2.78 and a beta of 0.90. Zoetis has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the company earned $1.41 EPS. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Zoetis will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.99%. Zoetis’s payout ratio is 33.66%.

Zoetis Company Profile

(Get Free Report)

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.

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