Zoetis (NYSE:ZTS) Issues FY24 Earnings Guidance

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

Shares of NYSE ZTS opened at $164.00 on Thursday. The firm’s 50-day moving average price is $170.07 and its 200-day moving average price is $178.97. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92. The firm has a market capitalization of $75.01 billion, a P/E ratio of 31.27, a P/E/G ratio of 2.50 and a beta of 0.86. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating 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 analyst estimates of $2.14 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that Zoetis will post 5.78 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.05%. Zoetis’s dividend payout ratio is currently 34.12%.

Analyst Ratings Changes

ZTS has been the topic of several research reports. StockNews.com lowered shares of Zoetis from a strong-buy rating to a buy rating in a report on Tuesday, February 20th. Piper Sandler reissued 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. 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. The Goldman Sachs Group boosted their target price on shares of Zoetis from $190.00 to $226.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. Finally, 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $216.13.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the sale, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at approximately $4,037,257.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 2,209 shares of company stock valued at $371,293. 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.