Zoetis (NYSE:ZTS) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Zoetis (NYSE:ZTS - Get Free Report) released its quarterly earnings results on Thursday. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.34 by $0.04, RTT News reports. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Zoetis updated its FY24 guidance to $5.71-5.81 EPS.

Zoetis Stock Up 5.5 %

Shares of NYSE ZTS traded up $8.73 during mid-day trading on Thursday, reaching $167.23. The company had a trading volume of 5,322,290 shares, compared to its average volume of 3,180,459. The stock has a fifty day moving average of $169.48 and a two-hundred day moving average of $178.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. The company has a market capitalization of $76.48 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 2.50 and a beta of 0.86. Zoetis has a 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis's dividend payout ratio (DPR) is 34.12%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the sale, the executive vice president now directly owns 15,723 shares of the company's stock, valued at $2,725,267.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 2,209 shares of company stock valued at $371,293 over the last three months. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ZTS. StockNews.com lowered shares of Zoetis from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 20th. Stifel Nicolaus decreased their target price on shares of Zoetis from $195.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday. Barclays decreased their target price on shares of Zoetis from $260.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 23rd. Piper Sandler reiterated an "overweight" rating and issued 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 increased their target price on shares of Zoetis from $190.00 to $226.00 and gave the company a "buy" rating in a research report on Wednesday, January 17th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis presently has a consensus rating of "Buy" and an average price target of $216.13.

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.