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

Zoetis (NYSE:ZTS) announced its earnings results on Thursday. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04, RTT News reports. Zoetis had a return on equity of 50.74% and a net margin of 27.38%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business posted $1.31 earnings per share. The company’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 Stock Down 0.1 %

NYSE:ZTS opened at $167.07 on Friday. The business’s fifty day moving average price is $169.48 and its 200 day moving average price is $178.89. The firm has a market capitalization of $76.41 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.62 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 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.03%. Zoetis’s dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays decreased their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group boosted their target price on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis has an average rating of “Buy” and a consensus price target of $216.13.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 363 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $197.74, for a total transaction of $71,779.62. Following the transaction, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 2,209 shares of company stock worth $371,293. 0.16% of the stock is currently owned by company insiders.

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.