Leerink Partnrs Weighs in on Zoetis FY2024 Earnings

Zoetis Inc. (NYSE:ZTS) – Equities research analysts at Leerink Partnrs issued their FY2024 earnings per share estimates for shares of Zoetis in a report issued on Monday, December 2nd. Leerink Partnrs analyst D. Clark expects that the company will earn $5.96 per share for the year. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Zoetis’ current full-year earnings is $5.90 per share. Leerink Partnrs also issued estimates for Zoetis’ Q4 2024 earnings at $1.44 EPS, Q1 2025 earnings at $1.50 EPS, Q2 2025 earnings at $1.68 EPS, Q3 2025 earnings at $1.72 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.48 EPS, FY2026 earnings at $7.15 EPS, FY2027 earnings at $7.84 EPS and FY2028 earnings at $8.49 EPS.

ZTS has been the subject of several other research reports. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Leerink Partners started coverage on Zoetis in a research report on Monday. They issued an “outperform” rating and a $215.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eleven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus price target of $220.80.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $174.77 on Wednesday. The stock has a market cap of $78.85 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 2.89 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92. The stock’s 50-day moving average is $182.43 and its 200 day moving average is $180.93.

Zoetis (NYSE:ZTS) last issued its earnings results on Monday, November 4th. The company reported $1.58 EPS 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 during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st were paid a $0.432 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.99%. Zoetis’s payout ratio is 32.52%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Peapack Gladstone Financial Corp raised its stake in shares of Zoetis by 1.8% in the third quarter. Peapack Gladstone Financial Corp now owns 77,004 shares of the company’s stock worth $15,045,000 after buying an additional 1,393 shares during the period. Tidal Investments LLC lifted its stake in shares of Zoetis by 3.4% in the 3rd quarter. Tidal Investments LLC now owns 15,210 shares of the company’s stock valued at $2,972,000 after purchasing an additional 500 shares during the last quarter. Destination Wealth Management lifted its stake in shares of Zoetis by 0.8% in the 3rd quarter. Destination Wealth Management now owns 123,844 shares of the company’s stock valued at $24,197,000 after purchasing an additional 1,027 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Zoetis by 801.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 18,606 shares of the company’s stock worth $3,635,000 after acquiring an additional 16,541 shares during the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of Zoetis by 29.1% during the 3rd quarter. World Investment Advisors LLC now owns 34,236 shares of the company’s stock worth $6,689,000 after acquiring an additional 7,709 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

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.