Leerink Partnrs Brokers Reduce Earnings Estimates for Zoetis

Zoetis Inc. (NYSE:ZTS) – Leerink Partnrs cut their FY2024 earnings per share (EPS) estimates for Zoetis in a research note issued to investors on Thursday, January 16th. Leerink Partnrs analyst D. Clark now forecasts that the company will post earnings of $5.94 per share for the year, down from their previous estimate of $5.96. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Zoetis’ current full-year earnings is $5.91 per share. Leerink Partnrs also issued estimates for Zoetis’ Q4 2024 earnings at $1.42 EPS, Q1 2025 earnings at $1.49 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.56 EPS, FY2025 earnings at $6.44 EPS, FY2026 earnings at $7.14 EPS, FY2027 earnings at $7.77 EPS and FY2028 earnings at $8.43 EPS.

A number of other brokerages have also commented on ZTS. Leerink Partners assumed coverage on Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. UBS Group began coverage on Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. Stifel Nicolaus lowered their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $211.89.

Zoetis Price Performance

Shares of NYSE ZTS opened at $169.30 on Friday. The firm has a market capitalization of $76.38 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.51 and a beta of 0.89. The firm’s 50-day moving average price is $171.25 and its 200-day moving average price is $180.07. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis has a 1-year low of $144.80 and a 1-year high of $200.53.

Zoetis (NYSE:ZTS) last released its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. Zoetis’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 EPS.

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This is a boost from Zoetis’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 1.18%. Zoetis’s dividend payout ratio (DPR) is 32.52%.

Hedge Funds Weigh In On Zoetis

Hedge funds have recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new position in shares of Zoetis during the third quarter valued at about $31,000. First Personal Financial Services bought a new stake in Zoetis in the 3rd quarter worth about $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the 3rd quarter valued at about $33,000. Dunhill Financial LLC lifted its position in shares of Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after buying an additional 75 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

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.