Zacks Reiterates “Neutral” Rating for Zoetis (ZTS)
Zoetis (NYSE:ZTS)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Wednesday, AmericanBankingNews.com reports. They currently have a $33.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 4.66% from the company’s current price.
Zacks‘ analyst wrote, “We are initiating coverage on Zoetis with a Neutral recommendation. Zoetis’ second quarter 2013 adjusted earnings of $0.36 per share were in line with the Zacks Consensus Estimate. Second quarter 2013 earnings were 3% above the year-ago figure. Higher revenues aided results in the quarter. We expect Zoetis to achieve its 2013 guidance (adjusted earnings in the range of $1.36-$1.42 per share on revenues between $4.425 billion to $4.525 billion) driven by its impressive and diversified product portfolio. We are also impressed by the company’s focus on emerging markets. We remain concerned about Zoetis’ high debt levels, which can impact its long-term growth prospects. “
Shares of Zoetis (NYSE:ZTS) traded down 0.92% during mid-day trading on Wednesday, hitting $31.24. 1,686,822 shares of the company’s stock traded hands. Zoetis has a one year low of $28.81 and a one year high of $35.42. The stock has a 50-day moving average of $30.93 and a 200-day moving average of $31.55. The company has a market cap of $15.620 billion and a P/E ratio of 37.54.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.13 billion. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Zoetis will post $1.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Friday, November 1st will be paid a dividend of $0.07 per share. This represents a $0.26 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Wednesday, October 30th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley upgraded shares of Zoetis from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, October 4th. They now have a $36.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Zoetis from $38.00 to $37.00 in a research note to investors on Tuesday, September 10th. They now have a “buy” rating on the stock. Finally, analysts at Argus reiterated a “buy” rating on shares of Zoetis in a research note to investors on Tuesday, September 10th. They now have a $38.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.00.
Zoetis Inc, is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals.
To view Zacks’ full report, visit www.zacks.com
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