FY2024 Earnings Forecast for Zoetis Issued By Zacks Research

Zoetis Inc. (NYSE:ZTS) – Equities research analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for Zoetis in a report issued on Monday, November 25th. Zacks Research analyst E. Bagri now forecasts that the company will earn $5.89 per share for the year, up from their previous forecast 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 posted its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS.

ZTS has been the subject of a number of other reports. Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. BTIG Research upped their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler increased 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. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis Price Performance

Zoetis stock opened at $176.74 on Wednesday. The firm has a fifty day moving average of $184.51 and a 200-day moving average of $180.81. Zoetis has a 52-week low of $144.80 and a 52-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 firm has a market capitalization of $79.74 billion, a P/E ratio of 33.22, a PEG ratio of 2.74 and a beta of 0.90.

Zoetis Announces Dividend

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

Institutional Trading of Zoetis

Several institutional investors have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC bought a new position in Zoetis during the 3rd quarter worth approximately $31,000. First Personal Financial Services acquired a new stake in shares of Zoetis during the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new position in Zoetis during the third quarter worth $33,000. Dunhill Financial LLC boosted its holdings in Zoetis by 80.6% in 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 period. Finally, Quarry LP increased its stake in Zoetis by 273.2% during 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.