Zoetis (NYSE:ZTS) Releases FY24 Earnings Guidance

Zoetis (NYSE:ZTS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.71-5.81 for the period, compared to the consensus 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.

Zoetis Stock Down 0.1 %

Shares of NYSE ZTS traded down $0.16 during midday trading on Friday, hitting $167.07. 3,007,125 shares of the company’s stock were exchanged, compared to its average volume of 4,607,073. The firm’s fifty day simple moving average is $168.88 and its 200-day simple moving average is $178.84. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The company has a market cap of $76.41 billion, a PE ratio of 32.19, a P/E/G ratio of 2.61 and a beta of 0.86. Zoetis has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.74%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Research analysts predict that Zoetis will post 5.77 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ZTS shares. Barclays decreased their target price on 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 restated an overweight rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. The Goldman Sachs Group upped their price target 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. StockNews.com downgraded shares of Zoetis from a strong-buy rating to a buy rating in a research report on Tuesday, February 20th. Finally, 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, April 30th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and an average price target of $216.13.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the completion of the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at $2,237,316. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,209 shares of company stock valued at $371,293 over the last three months. 0.16% of the stock is currently owned by insiders.

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.