Zoetis (NYSE:ZTS) Issues FY24 Earnings Guidance

Zoetis (NYSE:ZTS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $5.71-5.81 for the period, compared to the consensus EPS estimate of $5.78. The company issued revenue guidance of $9.05-9.20 billion, compared to the consensus revenue estimate of $9.16 billion.

Zoetis Trading Down 0.1 %

Zoetis stock traded down $0.16 during trading on Friday, hitting $167.07. The company’s stock had a trading volume of 3,007,125 shares, compared to its average volume of 4,607,073. The stock’s fifty day moving average is $168.88 and its 200 day moving average is $178.84. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92. The stock has a market capitalization of $76.41 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 2.61 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.74%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $1.31 EPS. The company’s revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that Zoetis will post 5.77 EPS for the current year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.03%. Zoetis’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ZTS shares. StockNews.com downgraded Zoetis from a strong-buy rating to a buy rating in a research report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on shares of Zoetis from $190.00 to $226.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. Stifel Nicolaus reduced their price target on shares of Zoetis from $195.00 to $180.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Piper Sandler reissued an overweight rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Finally, Barclays reduced their target price on shares of Zoetis from $260.00 to $230.00 and set an overweight rating on the stock in a report on Tuesday, April 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $216.13.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 363 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the transaction, the executive vice president now owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 2,209 shares of company stock valued at $371,293. 0.16% of the stock is currently owned by insiders.

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.