William Blair Comments on Zoetis' FY2024 Earnings (NYSE:ZTS)

Zoetis Inc. (NYSE:ZTS - Free Report) - Investment analysts at William Blair boosted their FY2024 earnings estimates for shares of Zoetis in a research note issued to investors on Monday, November 4th. William Blair analyst B. Vazquez now anticipates that the company will post earnings per share of $5.89 for the year, up from their previous forecast of $5.83. The consensus estimate for Zoetis' current full-year earnings is $5.91 per share. William Blair also issued estimates for Zoetis' Q1 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.54 EPS, Q1 2026 earnings at $1.64 EPS, Q2 2026 earnings at $1.86 EPS and FY2026 earnings at $7.14 EPS.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 52.59%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year.

Several other research firms also recently commented on ZTS. Argus raised shares of Zoetis to a "strong-buy" rating in a report on Friday, August 9th. BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, August 12th. JPMorgan Chase & Co. raised their target price on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of NYSE:ZTS traded down $4.90 during trading on Wednesday, hitting $170.37. The stock had a trading volume of 5,264,759 shares, compared to its average volume of 2,528,908. The stock has a 50-day simple moving average of $188.46 and a two-hundred day simple moving average of $179.17. The stock has a market capitalization of $77.19 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. Zoetis has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Personal Financial Services acquired a new stake in Zoetis during the 3rd quarter worth $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis during the 3rd quarter valued at about $33,000. Quarry LP raised its holdings in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company's stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. LRI Investments LLC purchased a new position in Zoetis in the 1st quarter worth approximately $43,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company's stock worth $46,000 after purchasing an additional 222 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.01%. Zoetis's dividend payout ratio is currently 32.33%.

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.