Zoetis (NYSE:ZTS) Announces Quarterly Earnings Results

Zoetis (NYSE:ZTS) released its quarterly earnings results on Monday. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12, Briefing.com reports. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. 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

Shares of NYSE ZTS opened at $173.07 on Tuesday. Zoetis has a 52 week low of $144.80 and a 52 week high of $201.92. The business’s 50 day moving average price is $188.84 and its 200 day moving average price is $179.03. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The firm has a market cap of $78.41 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.82 and a beta of 0.90.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.86%.

Analysts Set New Price Targets

Several analysts have commented on ZTS shares. JPMorgan Chase & Co. increased their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus increased their target price 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. Piper Sandler lifted their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BTIG Research increased their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten research 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 a consensus rating of “Buy” and a consensus price target 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.