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Zoetis (NYSE:ZTS) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Wednesday, ARN reports. They currently have a $4.00 target price on the stock. Morgan Stanley’s target price would indicate a potential downside of 86.95% from the stock’s previous close.

Shares of Zoetis (NYSE:ZTS) traded down 0.78% on Wednesday, hitting $30.65. The stock had a trading volume of 6,810,642 shares. Zoetis has a 52-week low of $28.14 and a 52-week high of $34.28. The stock has a 50-day moving average of $29.52 and a 200-day moving average of $30.8. The company has a market cap of $15.347 billion and a price-to-earnings ratio of 30.64. Zoetis also was the target of unusually large options trading activity on Tuesday. Traders purchased 10,376 put options on the company. This is an increase of approximately 1,210% compared to the typical volume of 792 put options.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that Zoetis will post $1.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, June 2nd. Stockholders of record on Sunday, April 27th will be paid a dividend of $0.072 per share. This represents a $0.29 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, April 23rd.

A number of other analysts have also recently weighed in on ZTS. Analysts at Jefferies Group cut their price target on shares of Zoetis to $34.00 in a research note on Monday, April 14th. They now have a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Zoetis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 2nd. They now have a $27.00 price target on the stock. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $30.00.

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.

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