Zoetis (NYSE:ZTS) Updates FY 2024 Earnings Guidance

Zoetis (NYSE:ZTS) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.860-5.920 for the period, compared to the consensus estimate of 5.820. The company issued revenue guidance of $9.2 billion-$9.3 billion, compared to the consensus revenue estimate of $9.2 billion. Zoetis also updated its FY24 guidance to $5.86-$5.92 EPS.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BTIG Research raised their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Stifel Nicolaus upped their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

NYSE ZTS opened at $175.18 on Tuesday. The business has a 50 day moving average price of $188.84 and a 200 day moving average price of $179.03. The company has a market capitalization of $79.37 billion, a P/E ratio of 34.28, a PEG ratio of 2.82 and a beta of 0.90. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. Sell-side analysts expect that Zoetis will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 33.86%.

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.