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

Zoetis (NYSE:ZTS) issued its quarterly earnings data on Monday. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12, Briefing.com reports. Zoetis had a net margin of 26.55% and a return on equity of 52.59%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the business posted $1.36 earnings per share. Zoetis’s quarterly revenue was up 11.6% compared to the same quarter last year. 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

Shares of ZTS opened at $170.37 on Thursday. The company has a market capitalization of $77.19 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. Zoetis has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $188.46 and a 200 day moving average of $179.17.

Zoetis Dividend Announcement

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 issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is 32.33%.

Analysts Set New Price Targets

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

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.