Leerink Partnrs Has Weak Estimate for Zoetis FY2024 Earnings

Zoetis Inc. (NYSE:ZTS) – Equities researchers at Leerink Partnrs cut their FY2024 earnings per share (EPS) estimates for Zoetis in a report issued on Thursday, January 16th. Leerink Partnrs analyst D. Clark now forecasts that the company will post earnings of $5.94 per share for the year, down from their prior forecast of $5.96. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Zoetis’ current full-year earnings is $5.91 per share. Leerink Partnrs also issued estimates for Zoetis’ Q4 2024 earnings at $1.42 EPS, Q1 2025 earnings at $1.49 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.56 EPS, FY2025 earnings at $6.44 EPS, FY2026 earnings at $7.14 EPS, FY2027 earnings at $7.77 EPS and FY2028 earnings at $8.43 EPS.

A number of other equities research analysts have also issued reports on ZTS. Leerink Partners started coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. UBS Group assumed coverage on shares of Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. Stifel Nicolaus decreased their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price of $211.89.

Zoetis Stock Down 2.0 %

Shares of ZTS opened at $166.01 on Friday. Zoetis has a 52-week low of $144.80 and a 52-week high of $200.53. 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 fifty day simple moving average of $171.15 and a two-hundred day simple moving average of $179.99. The company has a market capitalization of $74.90 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping 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 in the previous year, the firm posted $1.36 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year.

Zoetis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. This is a boost from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis’s dividend payout ratio is 37.59%.

Institutional Investors Weigh In On Zoetis

Institutional investors have recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in Zoetis in the 3rd quarter valued at about $31,000. First Personal Financial Services purchased a new position in Zoetis in the third quarter valued at $33,000. Capital Performance Advisors LLP acquired a new position in shares of Zoetis during the 3rd quarter worth about $33,000. Dunhill Financial LLC lifted its stake in Zoetis by 80.6% during the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares during the last quarter. Finally, Quarry LP increased its stake in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

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.