Zoetis Inc (ZTS) Research Coverage Started at CL King
Equities researchers at CL King initiated coverage on shares of Zoetis Inc (NYSE:ZTS) in a research report issued to clients and investors on Friday, The Fly reports. The firm set a “buy” rating on the stock.
ZTS has been the topic of a number of other reports. Zacks Investment Research raised Zoetis from a “sell” rating to a “hold” rating in a report on Friday, March 17th. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Zoetis in a research note on Wednesday, February 8th. Craig Hallum began coverage on Zoetis in a research note on Wednesday, March 15th. They issued a “buy” rating and a $65.00 price objective on the stock. Off Wall Street reaffirmed a “strong sell” rating and issued a $35.00 price objective on shares of Zoetis in a research note on Thursday, February 16th. Finally, Guggenheim lifted their price objective on Zoetis from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Zoetis has a consensus rating of “Buy” and an average target price of $58.94.
Zoetis (NYSE:ZTS) opened at 62.58 on Friday. The company has a 50 day moving average of $57.03 and a 200 day moving average of $53.95. Zoetis has a 52-week low of $45.28 and a 52-week high of $62.64. The company has a market capitalization of $30.71 billion, a PE ratio of 36.38 and a beta of 1.07.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.05. Zoetis had a return on equity of 72.96% and a net margin of 14.10%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm earned $0.48 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Zoetis will post $2.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, June 15th will be issued a $0.105 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.42 annualized dividend and a yield of 0.67%. Zoetis’s dividend payout ratio is currently 30.44%.
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In related news, insider Catherine A. Knupp sold 5,785 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $60.16, for a total value of $348,025.60. Following the completion of the sale, the insider now directly owns 24,415 shares in the company, valued at approximately $1,468,806.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ZTS. Assetmark Inc. increased its stake in shares of Zoetis by 4.6% in the first quarter. Assetmark Inc. now owns 1,918 shares of the company’s stock valued at $102,000 after buying an additional 85 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Zoetis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,905 shares of the company’s stock valued at $102,000 after buying an additional 13 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in shares of Zoetis during the first quarter valued at about $111,000. Advisory Services Network LLC bought a new stake in shares of Zoetis during the first quarter valued at about $112,000. Finally, First Interstate Bank increased its stake in shares of Zoetis by 17.5% in the fourth quarter. First Interstate Bank now owns 2,174 shares of the company’s stock valued at $116,000 after buying an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.
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. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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