Zacks Research Has Optimistic View of Zoetis FY2024 Earnings

Zoetis Inc. (NYSE:ZTS) – Equities researchers at Zacks Research boosted their FY2024 EPS estimates for shares of Zoetis in a report released on Monday, November 25th. Zacks Research analyst E. Bagri now forecasts that the company will post earnings per share of $5.89 for the year, up from their previous estimate of $5.81. The consensus estimate for Zoetis’ current full-year earnings is $5.90 per share. Zacks Research also issued estimates for Zoetis’ Q4 2024 earnings at $1.37 EPS, Q1 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.60 EPS, Q1 2026 earnings at $1.62 EPS and Q3 2026 earnings at $1.77 EPS.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year.

Other equities analysts have also issued research reports about the company. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. 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 research note on Friday, October 11th. Piper Sandler raised their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus lifted their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Price Performance

ZTS stock opened at $176.74 on Wednesday. The business has a 50 day moving average price of $184.51 and a 200 day moving average price of $180.81. Zoetis has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. 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 stock has a market cap of $79.74 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.74 and a beta of 0.90.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. Zoetis’s dividend payout ratio is currently 32.33%.

Institutional Inflows and Outflows

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

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.