Zoetis Inc. Declares Quarterly Dividend of $0.43 (NYSE:ZTS)

Zoetis Inc. (NYSE:ZTS) announced a quarterly dividend on Thursday, October 10th, Wall Street Journal reports. Shareholders of record on Thursday, October 31st will be paid a dividend of 0.432 per share on Tuesday, December 3rd. This represents a $1.73 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 31st.

Zoetis has increased its dividend by an average of 23.3% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Zoetis has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Zoetis to earn $6.43 per share next year, which means the company should continue to be able to cover its $1.73 annual dividend with an expected future payout ratio of 26.9%.

Zoetis Stock Down 0.1 %

Shares of ZTS stock opened at $190.11 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis has a 1 year low of $144.80 and a 1 year high of $201.92. The firm’s fifty day moving average price is $188.07 and its two-hundred day moving average price is $176.12. The firm has a market capitalization of $86.13 billion, a P/E ratio of 37.20, a PEG ratio of 2.95 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business earned $1.41 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Zoetis will post 5.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZTS. Piper Sandler lifted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BTIG Research lifted their price objective on shares of 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. lifted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus lifted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.