Zoetis (NYSE:ZTS) Releases Earnings Results, Beats Estimates By $0.04 EPS

Zoetis (NYSE:ZTS) announced its quarterly earnings data on Thursday. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04, RTT News reports. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company posted $1.31 earnings per share. Zoetis’s quarterly revenue was up 9.5% on a year-over-year basis. Zoetis updated its FY24 guidance to $5.71-5.81 EPS.

Zoetis Trading Up 6.4 %

Zoetis stock traded up $10.19 during mid-day trading on Thursday, hitting $168.69. The stock had a trading volume of 1,708,573 shares, compared to its average volume of 3,134,072. The stock has a market capitalization of $77.15 billion, a PE ratio of 33.13, a P/E/G ratio of 2.50 and a beta of 0.86. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. Zoetis has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a 50-day simple moving average of $170.07 and a two-hundred day simple moving average of $178.97.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be paid a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.02%. Zoetis’s dividend payout ratio (DPR) is currently 34.12%.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the sale, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 2,209 shares of company stock worth $371,293 in the last quarter. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.