Zoetis (NYSE:ZTS) Updates FY24 Earnings Guidance

Zoetis (NYSE:ZTS - Get Free Report) updated its FY24 earnings guidance on Thursday. 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 weighed in on the stock. 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 cut their price objective on shares of Zoetis from $195.00 to $180.00 and set a buy rating for the company in a research report on Tuesday. The Goldman Sachs Group raised their price objective 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. Barclays cut their price objective 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. Finally, Piper Sandler restated an overweight rating and issued a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis has a consensus rating of Buy and a consensus target price of $216.13.

Zoetis Price Performance

ZTS traded up $8.73 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 company has a market cap of $76.48 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.50 and a beta of 0.86. Zoetis has a 52-week low of $144.80 and a 52-week high of $201.92. The business has a 50 day simple moving average of $169.48 and a 200 day simple 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.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter last year, the business earned $1.31 earnings per share. The business's revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Zoetis will post 5.78 EPS for the current year.

Zoetis Dividend Announcement

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

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the business's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $173.33, for a total transaction of $159,983.59. Following the sale, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 2,209 shares of company stock worth $371,293 over the last quarter. Corporate insiders own 0.16% of the company's stock.

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.