Leerink Partnrs Weighs in on Zoetis FY2024 Earnings

Zoetis Inc. (NYSE:ZTS) – Analysts at Leerink Partnrs issued their FY2024 EPS estimates for shares of Zoetis in a research note issued to investors on Monday, December 2nd. Leerink Partnrs analyst D. Clark anticipates that the company will post earnings per share of $5.96 for the year. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Zoetis’ current full-year earnings is $5.90 per share. Leerink Partnrs also issued estimates for Zoetis’ Q4 2024 earnings at $1.44 EPS, Q1 2025 earnings at $1.50 EPS, Q2 2025 earnings at $1.68 EPS, Q3 2025 earnings at $1.72 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.48 EPS, FY2026 earnings at $7.15 EPS, FY2027 earnings at $7.84 EPS and FY2028 earnings at $8.49 EPS.

Several other brokerages have also issued reports on ZTS. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research boosted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler boosted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Eleven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and an average price target of $220.80.

Zoetis Stock Performance

Shares of ZTS stock opened at $176.94 on Wednesday. The company has a 50 day moving average price of $183.16 and a 200-day moving average price of $181.01. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $79.83 billion, a PE ratio of 33.26, a P/E/G ratio of 2.71 and a beta of 0.89. Zoetis has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis.

Institutional Trading of Zoetis

Several hedge funds have recently modified their holdings of the company. Peapack Gladstone Financial Corp lifted its position in shares of Zoetis by 1.8% during the third quarter. Peapack Gladstone Financial Corp now owns 77,004 shares of the company’s stock valued at $15,045,000 after buying an additional 1,393 shares during the last quarter. Tidal Investments LLC lifted its stake in Zoetis by 3.4% during the 3rd quarter. Tidal Investments LLC now owns 15,210 shares of the company’s stock valued at $2,972,000 after acquiring an additional 500 shares during the period. Destination Wealth Management lifted its stake in Zoetis by 0.8% during the 3rd quarter. Destination Wealth Management now owns 123,844 shares of the company’s stock valued at $24,197,000 after acquiring an additional 1,027 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in Zoetis by 801.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 18,606 shares of the company’s stock valued at $3,635,000 after acquiring an additional 16,541 shares during the period. Finally, World Investment Advisors LLC increased its holdings in shares of Zoetis by 29.1% during the 3rd quarter. World Investment Advisors LLC now owns 34,236 shares of the company’s stock valued at $6,689,000 after purchasing an additional 7,709 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st were paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

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.