Jefferies Group Comments on Zoetis Inc.’s Q3 2016 Earnings (ZTS)
Zoetis Inc. (NYSE:ZTS) – Jefferies Group issued their Q3 2016 earnings per share (EPS) estimates for Zoetis in a report released on Thursday. Jefferies Group analyst J. Holford forecasts that the firm will earn $0.46 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Group also issued estimates for Zoetis’ FY2016 earnings at $1.90 EPS.
Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. Zoetis had a net margin of 13.15% and a return on equity of 77.58%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Zoetis’s revenue for the quarter was up 2.8% on a year-over-year basis.
Several other research analysts also recently commented on the stock. Bank of America Corp. started coverage on shares of Zoetis in a report on Thursday, September 29th. They issued a “buy” rating and a $60.00 price objective for the company. Credit Suisse Group AG reiterated an “outperform” rating and issued a $60.00 target price on shares of Zoetis in a research note on Tuesday, August 23rd. Argus increased their target price on shares of Zoetis from $54.00 to $58.00 and gave the stock a “below average” rating in a research note on Friday, September 9th. Zacks Investment Research cut shares of Zoetis from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. Finally, Guggenheim reiterated a “positive” rating and issued a $60.00 target price on shares of Zoetis in a research note on Monday, August 22nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $55.27.
Shares of Zoetis (NYSE:ZTS) opened at 50.18 on Friday. Zoetis has a 52 week low of $38.26 and a 52 week high of $53.14. The company has a 50 day moving average of $51.25 and a 200 day moving average of $49.01. The company has a market cap of $24.84 billion, a PE ratio of 39.08 and a beta of 1.01.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 3rd will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, November 1st. Zoetis’s payout ratio is presently 29.69%.
In other Zoetis news, insider Heidi C. Chen sold 32,097 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $50.98, for a total value of $1,636,305.06. Following the sale, the insider now owns 46,060 shares of the company’s stock, valued at approximately $2,348,138.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael B. Mccallister purchased 2,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was purchased at an average cost of $51.34 per share, for a total transaction of $102,680.00. The disclosure for this purchase can be found here. 0.05% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in ZTS. Virginia Retirement System purchased a new stake in shares of Zoetis during the first quarter worth about $340,000. Franklin Resources Inc. raised its stake in shares of Zoetis by 18.4% in the first quarter. Franklin Resources Inc. now owns 76,090 shares of the company’s stock worth $3,374,000 after buying an additional 11,804 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Zoetis during the first quarter worth about $118,000. Bessemer Group Inc. raised its stake in shares of Zoetis by 323.2% in the first quarter. Bessemer Group Inc. now owns 5,066 shares of the company’s stock worth $225,000 after buying an additional 3,869 shares during the period. Finally, Advisor Partners LLC raised its stake in shares of Zoetis by 15.3% in the first quarter. Advisor Partners LLC now owns 5,548 shares of the company’s stock worth $246,000 after buying an additional 737 shares during the period. 93.12% of the stock is currently owned by institutional investors and hedge funds.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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