Research Analysts Offer Predictions for Zoetis Inc.’s Q2 2024 Earnings (NYSE:ZTS)

Zoetis Inc. (NYSE:ZTS) – Investment analysts at William Blair decreased their Q2 2024 earnings per share estimates for shares of Zoetis in a research report issued on Thursday, May 2nd. William Blair analyst B. Vazquez now forecasts that the company will post earnings of $1.46 per share for the quarter, down from their prior estimate of $1.49. The consensus estimate for Zoetis’ current full-year earnings is $5.77 per share. William Blair also issued estimates for Zoetis’ Q3 2024 earnings at $1.48 EPS, Q4 2024 earnings at $1.43 EPS, FY2024 earnings at $5.76 EPS, Q1 2025 earnings at $1.53 EPS, Q2 2025 earnings at $1.64 EPS, Q3 2025 earnings at $1.66 EPS, Q4 2025 earnings at $1.61 EPS and FY2025 earnings at $6.43 EPS.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus reduced their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Barclays lowered their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $212.38.

Zoetis Stock Performance

NYSE ZTS opened at $168.45 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The stock has a market capitalization of $76.86 billion, a PE ratio of 32.46, a P/E/G ratio of 2.62 and a beta of 0.86. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92. The business has a 50 day simple moving average of $167.64 and a two-hundred day simple moving average of $178.93.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $1.31 EPS. Zoetis’s revenue for the quarter was up 9.5% compared to the same quarter last year.

Institutional Investors Weigh In On Zoetis

Several institutional investors have recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC lifted its position in Zoetis by 7.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock worth $16,308,000 after acquiring an additional 6,457 shares during the period. Peak Financial Advisors LLC acquired a new stake in Zoetis during the 4th quarter worth about $2,776,000. Ninety One UK Ltd raised its stake in shares of Zoetis by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock valued at $21,374,000 after buying an additional 12,537 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Zoetis by 10.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock valued at $36,230,000 after buying an additional 17,976 shares during the period. Finally, Advisor Partners II LLC raised its position in Zoetis by 4.0% during the third quarter. Advisor Partners II LLC now owns 24,068 shares of the company’s stock valued at $4,187,000 after acquiring an additional 922 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $197.74, for a total transaction of $71,779.62. Following the completion of the sale, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 2,209 shares of company stock worth $371,293. 0.16% of the stock is currently owned by company insiders.

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.