Zacks: Brokerages Expect Zoetis Inc (ZTS) Will Announce Earnings of $0.77 Per Share

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Equities research analysts expect that Zoetis Inc (NYSE:ZTS) will report earnings of $0.77 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Zoetis’ earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.78. Zoetis reported earnings of $0.65 per share during the same quarter last year, which would indicate a positive year over year growth rate of 18.5%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, November 1st.

On average, analysts expect that Zoetis will report full year earnings of $3.07 per share for the current fiscal year, with EPS estimates ranging from $3.00 to $3.10. For the next year, analysts anticipate that the business will report earnings of $3.46 per share, with EPS estimates ranging from $3.26 to $3.58. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Zoetis.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Zoetis had a net margin of 19.95% and a return on equity of 72.30%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS.

A number of research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $105.00 target price (up from $98.00) on shares of Zoetis in a report on Wednesday. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday. Stifel Nicolaus lowered shares of Zoetis from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a report on Tuesday, August 21st. They noted that the move was a valuation call. Morgan Stanley upped their target price on shares of Zoetis from $87.00 to $92.00 and gave the company a “hold” rating in a report on Friday, August 3rd. Finally, Argus increased their price objective on shares of Zoetis from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $92.63.

In other news, insider Roxanne Lagano sold 2,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $92.03, for a total transaction of $184,060.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Juan Ramon Alaix sold 135,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $91.55, for a total transaction of $12,359,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,467 shares of company stock worth $19,502,725. Insiders own 0.35% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Gables Capital Management Inc. purchased a new position in Zoetis in the first quarter valued at approximately $109,000. Sun Life Financial INC grew its position in Zoetis by 604.3% in the second quarter. Sun Life Financial INC now owns 1,310 shares of the company’s stock valued at $112,000 after acquiring an additional 1,124 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Zoetis in the third quarter valued at approximately $112,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Zoetis by 3,033.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,410 shares of the company’s stock valued at $120,000 after acquiring an additional 1,365 shares in the last quarter. Finally, Fort L.P. acquired a new stake in Zoetis in the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 89.80% of the company’s stock.

NYSE:ZTS traded down $0.36 on Wednesday, reaching $91.47. The stock had a trading volume of 1,732,499 shares, compared to its average volume of 2,178,161. The firm has a market cap of $44.25 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 1.74 and a beta of 1.01. The company has a current ratio of 4.38, a quick ratio of 2.92 and a debt-to-equity ratio of 2.50. Zoetis has a 12-month low of $63.03 and a 12-month high of $94.31.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.126 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.50 annualized dividend and a dividend yield of 0.55%. Zoetis’s payout ratio is currently 20.83%.

About Zoetis

Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.

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