Zoetis (NYSE:ZTS) Updates FY24 Earnings Guidance

Zoetis (NYSE:ZTS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.71-5.81 for the period, compared to the consensus earnings per share estimate of $5.78. The company issued revenue guidance of $9.05-9.20 billion, compared to the consensus revenue estimate of $9.16 billion.

Analyst Upgrades and Downgrades

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

Zoetis Price Performance

ZTS stock traded down $0.16 during midday trading on Friday, reaching $167.07. 3,007,125 shares of the company’s stock traded hands, compared to its average volume of 4,607,073. The company has a 50-day simple moving average of $168.88 and a two-hundred day simple moving average of $178.84. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a market cap of $76.41 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.61 and a beta of 0.86.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.74%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $1.31 earnings per share. Zoetis’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts anticipate that Zoetis will post 5.77 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be paid a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.03%. Zoetis’s dividend payout ratio (DPR) is currently 33.33%.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $197.74, for a total transaction of $71,779.62. Following the transaction, the executive vice president now directly owns 20,417 shares in the company, valued at approximately $4,037,257.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 2,209 shares of company stock valued at $371,293 over the last 90 days. 0.16% of the stock is 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.