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Zoetis (NYSE:ZTS)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Wednesday. They currently have a $34.00 target price on the stock. Zacks‘s price objective points to a potential upside of 5.56% from the stock’s previous close.

Zacks’ analyst wrote, “Zoetis’ second quarter 2014 adjusted earnings of $0.38 per share fell short of the Zacks Consensus Estimate by a penny. Second quarter earnings were above the year-ago figure of 2 cents on the back of higher revenues which climbed 4% to $1.2 billion. Foreign currency movements adversely impacted the top line during the quarter by 2%. Zoetis tweaked its outlook for 2014 both with respect to revenues and earnings. The company now expects revenues in the range of $4.675 billion to $4.75 billion. Adjusted earnings per share are now projected in the range of $1.50 to $1.54. We believe that the stock is fairly valued at current levels with limited scope for upside. Hence we remain Neutral on the stock. “

A number of other firms have also recently commented on ZTS. Analysts at BMO Capital Markets cut their price target on shares of Zoetis from $37.00 to $36.00 in a research note on Wednesday. Analysts at Jefferies Group reiterated a “buy” rating on shares of Zoetis in a research note on Monday, July 14th. They now have a $38.00 price target on the stock, up previously from $37.00. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Zoetis has an average rating of “Hold” and a consensus price target of $30.00.

Zoetis (NYSE:ZTS) traded up 0.31% during mid-day trading on Wednesday, hitting $32.31. 1,298,795 shares of the company’s stock traded hands. Zoetis has a 52 week low of $28.14 and a 52 week high of $33.35. The stock has a 50-day moving average of $32.64 and a 200-day moving average of $30.87. The company has a market cap of $16.188 billion and a P/E ratio of 31.03.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.072 per share. This represents a $0.29 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, August 18th.

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 Zacks’ official website.

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