Zoetis (NYSE:ZTS) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Zoetis (NYSE:ZTS) posted its quarterly earnings data on Monday. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12, Briefing.com reports. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $1.36 earnings per share. Zoetis updated its FY 2024 guidance to 5.860-5.920 EPS and its FY24 guidance to $5.86-$5.92 EPS.

Zoetis Price Performance

NYSE ZTS opened at $175.18 on Tuesday. Zoetis has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a fifty day simple moving average of $188.84 and a 200 day simple moving average of $179.03. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The company has a market cap of $79.37 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.82 and a beta of 0.90.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is 33.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus boosted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $221.44.

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.