BMO Capital Markets Boosts Zoetis (ZTS) Price Target to $78.00

Zoetis (NYSE:ZTS) had its price target lifted by BMO Capital Markets to $78.00 in a research note released on Tuesday morning, The Fly reports. They currently have a market perform rating on the stock.

A number of other equities analysts have also commented on ZTS. Citigroup upgraded Zoetis from a neutral rating to a buy rating and set a $85.00 price objective on the stock in a research note on Thursday, January 4th. BidaskClub lowered Zoetis from a strong-buy rating to a buy rating in a research note on Wednesday, September 20th. Cantor Fitzgerald set a $85.00 price objective on Zoetis and gave the stock a buy rating in a research note on Tuesday, January 2nd. Craig Hallum reiterated a buy rating and issued a $85.00 price objective (up from $77.00) on shares of Zoetis in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research lowered Zoetis from a buy rating to a hold rating in a research note on Saturday, January 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Zoetis has a consensus rating of Buy and a consensus target price of $71.28.

Shares of Zoetis (NYSE ZTS) traded up $0.68 during trading hours on Tuesday, hitting $74.59. The company’s stock had a trading volume of 1,629,200 shares, compared to its average volume of 2,425,500. Zoetis has a 12 month low of $52.00 and a 12 month high of $75.47. The firm has a market capitalization of $36,600.00, a PE ratio of 39.26, a P/E/G 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 (NYSE:ZTS) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Zoetis had a return on equity of 64.54% and a net margin of 21.97%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. equities analysts forecast that Zoetis will post 2.37 earnings per share for the current fiscal year.

The company 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 dividend of $0.126 per share. This represents a $0.50 annualized dividend and a yield of 0.68%. This is a positive change from Zoetis’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, January 18th. Zoetis’s payout ratio is currently 22.11%.

A number of institutional investors and hedge funds have recently modified their holdings of ZTS. Janus Henderson Group PLC increased its stake in Zoetis by 7,717.4% during the second quarter. Janus Henderson Group PLC now owns 5,809,086 shares of the company’s stock valued at $362,372,000 after acquiring an additional 5,734,776 shares during the period. BlackRock Inc. increased its stake in Zoetis by 3.9% during the second quarter. BlackRock Inc. now owns 37,495,299 shares of the company’s stock valued at $2,338,957,000 after acquiring an additional 1,412,829 shares during the period. AJO LP increased its stake in Zoetis by 4,506.8% during the second quarter. AJO LP now owns 1,271,425 shares of the company’s stock valued at $79,311,000 after acquiring an additional 1,243,826 shares during the period. Thrivent Financial For Lutherans increased its stake in Zoetis by 642.7% during the second quarter. Thrivent Financial For Lutherans now owns 1,336,033 shares of the company’s stock valued at $83,342,000 after acquiring an additional 1,156,142 shares during the period. Finally, Vanguard Group Inc. increased its stake in Zoetis by 2.8% during the second quarter. Vanguard Group Inc. now owns 33,654,686 shares of the company’s stock valued at $2,099,379,000 after acquiring an additional 910,265 shares during the period. 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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