Zoetis Inc. (ZTS) Announces Earnings Results, Hits Estimates
Zoetis Inc. (NYSE:ZTS) posted its quarterly earnings results on Tuesday. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53, MarketWatch Earnings reports. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Zoetis had a net margin of 17.25% and a return on equity of 65.35%. Zoetis’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share.
Zoetis (NYSE ZTS) opened at 61.83 on Tuesday. The firm’s 50-day moving average is $62.59 and its 200 day moving average is $57.66. Zoetis has a 12-month low of $46.86 and a 12-month high of $63.85. The stock has a market capitalization of $30.35 billion, a P/E ratio of 35.95 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.42 annualized dividend and a yield of 0.68%. Zoetis’s dividend payout ratio (DPR) is currently 24.42%.
Several research firms have weighed in on ZTS. Zacks Investment Research lowered shares of Zoetis from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Hilliard Lyons began coverage on shares of Zoetis in a report on Tuesday, June 20th. They issued a “buy” rating and a $77.00 target price on the stock. Argus reiterated a “buy” rating and issued a $69.00 target price (up from $60.00) on shares of Zoetis in a report on Tuesday, May 30th. Deutsche Bank AG restated a “buy” rating and issued a $65.00 price objective (up from $62.00) on shares of Zoetis in a report on Monday, July 17th. Finally, CL King initiated coverage on shares of Zoetis in a report on Friday, May 26th. They issued a “buy” rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.78.
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In other Zoetis news, insider Catherine A. Knupp sold 5,785 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were 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 of the company’s stock, valued at approximately $1,468,806.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. 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 worth $102,000 after buying an additional 85 shares during 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 worth $102,000 after buying an additional 13 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Zoetis during the first quarter worth $111,000. Advisory Services Network LLC acquired a new stake in shares of Zoetis during the first quarter worth $112,000. Finally, First Interstate Bank increased its stake in shares of Zoetis by 3.5% in the first quarter. First Interstate Bank now owns 2,250 shares of the company’s stock worth $120,000 after buying an additional 76 shares during the last quarter. 94.51% of the stock is owned by institutional investors.
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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