Zoetis (NYSE:ZTS) Issues FY24 Earnings Guidance

Zoetis (NYSE:ZTS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.78-5.88 for the period, compared to the consensus estimate of $5.77. The company issued revenue guidance of $9.10-9.25 billion, compared to the consensus revenue estimate of $9.14 billion. Zoetis also updated its FY 2024 guidance to 5.780-5.880 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZTS. The Goldman Sachs Group dropped their target price on shares of Zoetis from $223.00 to $196.00 and set a buy rating on the stock in a report on Monday, May 6th. Stifel Nicolaus raised their target price on Zoetis from $180.00 to $200.00 and gave the stock a buy rating in a research note on Monday. HSBC cut their price target on Zoetis from $230.00 to $225.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Barclays decreased their price target on shares of Zoetis from $260.00 to $230.00 and set an overweight rating for the company in a research note on Tuesday, April 23rd. Finally, BTIG Research began coverage on shares of Zoetis in a research report on Thursday, July 25th. They set a buy rating and a $220.00 price objective on the stock. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis has a consensus rating of Buy and an average target price of $214.89.

Zoetis Trading Up 1.9 %

Shares of ZTS stock opened at $188.30 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The company has a market capitalization of $85.92 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 2.85 and a beta of 0.86. Zoetis has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a 50-day simple moving average of $176.47 and a two-hundred day simple moving average of $175.51.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.47% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business posted $1.41 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts anticipate that Zoetis will post 5.81 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is 33.14%.

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.