Zoetis (NYSE:ZTS) Releases FY 2024 Earnings Guidance

Zoetis (NYSE:ZTS) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 5.780-5.880 for the period, compared to the consensus EPS estimate of 5.770. The company issued revenue guidance of $9.1 billion-$9.3 billion, compared to the consensus revenue estimate of $9.2 billion. Zoetis also updated its FY24 guidance to $5.78-5.88 EPS.

Zoetis Trading Down 1.6 %

Shares of Zoetis stock traded down $3.05 on Friday, hitting $185.25. 1,877,008 shares of the company’s stock traded hands, compared to its average volume of 2,790,747. The company has a market capitalization of $84.53 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 2.85 and a beta of 0.86. The company has a fifty day moving average of $176.47 and a two-hundred day moving average of $175.51. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. Zoetis has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last announced 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 net margin of 26.29% and a return on equity of 50.47%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Zoetis will post 5.81 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is 33.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ZTS shares. BTIG Research assumed coverage on Zoetis in a research note on Thursday, July 25th. They issued a buy rating and a $220.00 price objective for the company. The Goldman Sachs Group decreased their price target on shares of Zoetis from $223.00 to $196.00 and set a buy rating for the company in a research note on Monday, May 6th. Barclays dropped their price objective on shares of Zoetis from $260.00 to $230.00 and set an overweight rating on the stock in a research note on Tuesday, April 23rd. HSBC decreased their target price on shares of Zoetis from $230.00 to $225.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus raised their price target on shares of Zoetis from $180.00 to $200.00 and gave the company a buy rating in a research report on Monday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average 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.