Zoetis (NYSE:ZTS) Releases FY24 Earnings Guidance

Zoetis (NYSE:ZTS) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $5.86-$5.92 for the period, compared to the consensus earnings per share 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.

Zoetis Stock Down 0.5 %

ZTS traded down $0.84 during mid-day trading on Tuesday, reaching $174.34. 194,038 shares of the stock were exchanged, compared to its average volume of 2,505,168. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The stock has a market capitalization of $78.98 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.82 and a beta of 0.90. The company has a 50 day moving average price of $188.84 and a two-hundred day moving average price of $179.03. Zoetis has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. As a group, research analysts anticipate that Zoetis will post 5.83 EPS for the current year.

Zoetis Dividend Announcement

The company also recently disclosed 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 is 33.86%.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. BTIG Research boosted their price target on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $221.44.

Zoetis Company Profile

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.