Zacks Research Analysts Increase Earnings Estimates for Zoetis Inc. (NYSE:ZTS)

Zoetis Inc. (NYSE:ZTS) – Stock analysts at Zacks Research upped their Q2 2024 EPS estimates for shares of Zoetis in a report issued on Tuesday, April 9th. Zacks Research analyst E. Bagri now forecasts that the company will post earnings per share of $1.51 for the quarter, up from their prior estimate of $1.50. The consensus estimate for Zoetis’ current full-year earnings is $5.80 per share. Zacks Research also issued estimates for Zoetis’ Q3 2024 earnings at $1.49 EPS, FY2024 earnings at $5.82 EPS, Q2 2025 earnings at $1.64 EPS and Q3 2025 earnings at $1.68 EPS.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 EPS.

ZTS has been the subject of a number of other research reports. Jefferies Financial Group restated a “buy” rating and issued a $230.00 price target on shares of Zoetis in a research note on Tuesday, December 19th. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group boosted their price target on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays raised their price objective on Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus cut their price objective on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $222.11.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $163.20 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The firm has a market cap of $74.64 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 2.53 and a beta of 0.85. The stock’s fifty day moving average price is $181.23 and its two-hundred day moving average price is $181.16. Zoetis has a one year low of $151.03 and a one year high of $201.92.

Institutional Trading of Zoetis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in Zoetis in the 1st quarter valued at approximately $134,000. Sequoia Financial Advisors LLC lifted its holdings in Zoetis by 5.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,166 shares of the company’s stock worth $786,000 after buying an additional 211 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of Zoetis by 3.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 51,581 shares of the company’s stock valued at $9,727,000 after buying an additional 1,914 shares during the last quarter. Covestor Ltd grew its position in shares of Zoetis by 102.8% in the 1st quarter. Covestor Ltd now owns 724 shares of the company’s stock valued at $137,000 after buying an additional 367 shares during the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Zoetis by 92.8% in the first quarter. Merit Financial Group LLC now owns 2,342 shares of the company’s stock valued at $442,000 after buying an additional 1,127 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $191.43, for a total value of $176,689.89. Following the completion of the transaction, the executive vice president now directly owns 17,569 shares in the company, valued at approximately $3,363,233.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 2,209 shares of company stock worth $408,453 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

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.