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

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

Zoetis Stock Performance

Zoetis stock traded up $9.24 on Thursday, hitting $167.74. The company’s stock had a trading volume of 1,846,069 shares, compared to its average volume of 3,136,757. The firm has a market cap of $76.72 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 2.50 and a beta of 0.86. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $170.07 and a 200-day moving average price of $178.97. Zoetis has a one year low of $144.80 and a one year high of $201.92.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders 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 presently 34.12%.

Insider Buying and Selling at Zoetis

In other Zoetis 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 value of $159,983.59. Following the sale, the executive vice president now owns 15,723 shares of the company’s stock, valued at approximately $2,725,267.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 2,209 shares of company stock valued at $371,293 in the last 90 days. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ZTS shares. Stifel Nicolaus reduced their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays cut their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group upped their target price on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus 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.