Zoetis (NYSE:ZTS) Updates FY 2024 Earnings Guidance

Zoetis (NYSE:ZTS - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 5.710-5.810 for the period, compared to the consensus EPS estimate of 5.790. The company issued revenue guidance of $9.1 billion-$9.2 billion, compared to the consensus revenue estimate of $9.2 billion.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZTS shares. The Goldman Sachs Group upped their target price on Zoetis from $190.00 to $226.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. Barclays reduced 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. Stifel Nicolaus reduced their target price on shares of Zoetis from $195.00 to $180.00 and set a buy rating for the company in a report on Tuesday. StockNews.com lowered Zoetis from a strong-buy rating to a buy rating in a research note on Tuesday, February 20th. Finally, Piper Sandler reaffirmed an overweight rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $216.13.

Zoetis Stock Down 0.1 %

Shares of ZTS stock traded down $0.16 during trading on Friday, hitting $167.07. 2,977,172 shares of the company were exchanged, compared to its average volume of 3,178,449. Zoetis has a twelve month low of $144.80 and a twelve month high of $201.92. 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 firm has a market capitalization of $76.41 billion, a price-to-earnings ratio of 32.95, a P/E/G ratio of 2.48 and a beta of 0.86. The business's 50-day simple moving average is $169.48 and its 200 day simple moving average is $178.89.

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

Zoetis Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis's dividend payout ratio is presently 34.12%.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 923 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $173.33, for a total value of $159,983.59. Following the transaction, the executive vice president now directly owns 15,723 shares of the company's stock, valued at approximately $2,725,267.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 2,209 shares of company stock valued at $371,293 over the last quarter. Insiders own 0.16% of the company's stock.

Zoetis Company Profile

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.