Q3 2024 EPS Estimates for Zoetis Inc. (NYSE:ZTS) Cut by Analyst

Zoetis Inc. (NYSE:ZTS) – Research analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for Zoetis in a research report issued on Monday, April 29th. Zacks Research analyst E. Bagri now forecasts that the company will post earnings per share of $1.48 for the quarter, down from their previous forecast of $1.49. The consensus estimate for Zoetis’ current full-year earnings is $5.78 per share. Zacks Research also issued estimates for Zoetis’ FY2024 earnings at $5.79 EPS, Q3 2025 earnings at $1.65 EPS and Q4 2025 earnings at $1.60 EPS.

ZTS has been the topic of several other reports. Stifel Nicolaus cut their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group lifted their price objective on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays lowered their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and a consensus price target of $216.13.

Zoetis Stock Performance

Zoetis stock opened at $158.53 on Wednesday. The stock’s 50 day simple moving average is $170.07 and its two-hundred day simple moving average is $178.97. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. The stock has a market cap of $72.51 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.44 and a beta of 0.85. Zoetis has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate 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 net margin of 27.43% and a return on equity of 51.25%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share.

Hedge Funds Weigh In On Zoetis

Hedge funds have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its holdings in Zoetis by 7.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock worth $16,308,000 after acquiring an additional 6,457 shares during the last quarter. Peak Financial Advisors LLC purchased a new stake in Zoetis during the 4th quarter valued at $2,776,000. BLB&B Advisors LLC raised its stake in Zoetis by 1.9% during the 3rd quarter. BLB&B Advisors LLC now owns 60,872 shares of the company’s stock valued at $10,591,000 after buying an additional 1,107 shares during the last quarter. Ninety One UK Ltd raised its stake in Zoetis by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock valued at $21,374,000 after buying an additional 12,537 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Zoetis by 10.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock valued at $36,230,000 after buying an additional 17,976 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the transaction, the executive vice president now directly owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 2,209 shares of company stock worth $371,293 in the last three months. Insiders own 0.16% of the company’s stock.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a yield of 1.09%. Zoetis’s payout ratio is currently 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.