Zoetis (ZTS) Upgraded at Citigroup

Citigroup upgraded shares of Zoetis (NYSE:ZTS) from a neutral rating to a buy rating in a report released on Thursday, Marketbeat.com reports. The brokerage currently has $85.00 price target on the stock.

Several other equities research analysts also recently commented on the company. Morgan Stanley raised Zoetis from an equal weight rating to an overweight rating and set a $80.00 price objective for the company in a report on Wednesday, November 29th. Jefferies Group reissued a buy rating on shares of Zoetis in a report on Friday, November 10th. Zacks Investment Research downgraded Zoetis from a buy rating to a hold rating in a report on Wednesday, November 1st. BidaskClub raised Zoetis from a sell rating to a hold rating in a report on Friday, October 13th. Finally, Cantor Fitzgerald set a $80.00 price objective on Zoetis and gave the company a buy rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $70.83.

Shares of Zoetis (NYSE ZTS) opened at $73.36 on Thursday. The company has a market capitalization of $35,747.45, a P/E ratio of 38.61, a PEG ratio of 1.91 and a beta of 1.06. The company has a quick ratio of 1.95, a current ratio of 2.80 and a debt-to-equity ratio of 2.45. Zoetis has a twelve month low of $52.00 and a twelve month high of $73.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Zoetis had a return on equity of 62.39% and a net margin of 18.29%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. analysts forecast that Zoetis will post 2.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, January 19th will be paid a $0.126 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, January 18th. This is a boost from Zoetis’s previous quarterly dividend of $0.11. Zoetis’s dividend payout ratio is 22.11%.

Hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd increased its position in Zoetis by 7.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,901 shares of the company’s stock worth $368,000 after buying an additional 401 shares during the period. Wells Fargo & Company MN increased its position in Zoetis by 8.2% during the 2nd quarter. Wells Fargo & Company MN now owns 5,113,948 shares of the company’s stock worth $319,008,000 after buying an additional 389,260 shares during the period. Balyasny Asset Management LLC increased its position in Zoetis by 55.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 44,330 shares of the company’s stock worth $2,765,000 after buying an additional 15,830 shares during the period. BlackRock Inc. increased its position in Zoetis by 3.9% during the 2nd quarter. BlackRock Inc. now owns 37,495,299 shares of the company’s stock worth $2,338,957,000 after buying an additional 1,412,829 shares during the period. Finally, Quantbot Technologies LP bought a new position in Zoetis during the 3rd quarter worth $3,972,000. Hedge funds and other institutional investors own 93.19% of the company’s stock.

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About Zoetis

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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