Zoetis (NYSE:ZTS) Issues FY24 Earnings Guidance

Zoetis (NYSE:ZTS) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $5.78-5.88 for the period, compared to the consensus EPS estimate of $5.77. The company issued revenue guidance of $9.10-9.25 billion, compared to the consensus revenue estimate of $9.14 billion. Zoetis also updated its FY 2024 guidance to 5.780-5.880 EPS.

Zoetis Trading Up 0.0 %

Zoetis stock traded up $0.05 during trading hours on Wednesday, reaching $185.34. 1,221,090 shares of the company’s stock were exchanged, compared to its average volume of 2,797,964. The firm has a market capitalization of $84.57 billion, a PE ratio of 35.70, a PEG ratio of 2.80 and a beta of 0.86. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The firm’s 50 day simple moving average is $175.81 and its 200 day simple moving average is $175.36. Zoetis has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last released its earnings results 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 50.34% and a net margin of 27.38%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Research analysts predict that Zoetis will post 5.76 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BTIG Research assumed coverage on Zoetis in a research note on Thursday, July 25th. They issued a buy rating and a $220.00 target price for the company. HSBC decreased their price objective on Zoetis from $230.00 to $225.00 and set a buy rating for the company in a report on Wednesday, May 8th. Piper Sandler reissued an overweight rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Stifel Nicolaus upped their price objective on shares of Zoetis from $180.00 to $200.00 and gave the stock a buy rating in a report on Monday. Finally, The Goldman Sachs Group reduced their price objective on shares of Zoetis from $223.00 to $196.00 and set a buy rating for the company in a report on Monday, May 6th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $214.89.

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.