Zoetis (NYSE:ZTS) Updates FY24 Earnings Guidance

Zoetis (NYSE:ZTS) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.86-$5.92 for the period, compared to the consensus estimate of $5.83. The company issued revenue guidance of $9.20-$9.30 billion, compared to the consensus revenue estimate of $9.20 billion. Zoetis also updated its FY 2024 guidance to 5.860-5.920 EPS.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus boosted their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. BTIG Research boosted their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Piper Sandler raised their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Up 1.2 %

Shares of ZTS stock traded up $2.10 during mid-day trading on Thursday, hitting $172.47. 1,264,693 shares of the stock traded hands, compared to its average volume of 2,522,683. The stock’s fifty day moving average is $188.46 and its two-hundred day moving average is $179.17. 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 has a 52-week low of $144.80 and a 52-week high of $201.92. The stock has a market cap of $78.14 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.68 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 52.59%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm earned $1.36 earnings per share. Zoetis’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Zoetis will post 5.91 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 32.33%.

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.