Equities Analysts Set Expectations for Zoetis Inc.’s Q3 2024 Earnings (NYSE:ZTS)

Zoetis Inc. (NYSE:ZTS) – Research analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for Zoetis in a report released on Monday, April 29th. Zacks Research analyst E. Bagri now forecasts that the company will post earnings per share of $1.48 for the quarter, down from their prior estimate of $1.49. The consensus estimate for Zoetis’ current full-year earnings is $5.78 per share. Zacks Research also issued estimates for Zoetis’ FY2024 earnings at $5.79 EPS, Q3 2025 earnings at $1.65 EPS and Q4 2025 earnings at $1.60 EPS.

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

Zoetis Trading Up 5.5 %

NYSE ZTS opened at $167.23 on Wednesday. The stock’s 50-day simple moving average is $169.48 and its two-hundred day simple moving average is $178.89. Zoetis has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $76.48 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 2.50 and a beta of 0.86.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the business posted $1.31 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.03%. Zoetis’s payout ratio is presently 34.12%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the sale, the executive vice president now directly owns 14,800 shares of the company’s stock, valued at $2,237,316. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 2,209 shares of company stock valued at $371,293 over the last ninety days. 0.16% of the stock is owned by insiders.

Institutional Trading of Zoetis

Large investors have recently modified their holdings of the business. Norges Bank bought a new stake in Zoetis during the 4th quarter valued at approximately $980,646,000. Price T Rowe Associates Inc. MD boosted its position in Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after acquiring an additional 3,244,074 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Zoetis during the 4th quarter valued at approximately $242,757,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Zoetis during the third quarter valued at approximately $176,219,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Zoetis by 122.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock valued at $285,923,000 after purchasing an additional 797,884 shares during the last quarter. 92.80% of the stock is owned by institutional investors.

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.