SunTrust Banks Research Analysts Lift Earnings Estimates for Zoetis Inc (NYSE:ZTS)

Zoetis Inc (NYSE:ZTS) – SunTrust Banks lifted their Q3 2019 earnings estimates for Zoetis in a report issued on Monday, August 12th. SunTrust Banks analyst G. Gilbert now anticipates that the company will post earnings per share of $0.91 for the quarter, up from their prior forecast of $0.90. SunTrust Banks currently has a “Hold” rating and a $130.00 price target on the stock. SunTrust Banks also issued estimates for Zoetis’ FY2019 earnings at $3.58 EPS, FY2020 earnings at $3.95 EPS, FY2021 earnings at $4.39 EPS, FY2022 earnings at $4.86 EPS and FY2023 earnings at $5.38 EPS.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. Zoetis had a net margin of 22.74% and a return on equity of 72.86%. Zoetis’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share.

A number of other analysts have also weighed in on ZTS. Bank of America lowered shares of Zoetis from a “buy” rating to a “neutral” rating and raised their price target for the company from $111.00 to $120.00 in a report on Monday, July 1st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Zoetis from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price (up previously from $116.00) on shares of Zoetis in a report on Wednesday, June 12th. Gabelli lowered shares of Zoetis from a “buy” rating to a “hold” rating and set a $108.00 target price for the company. in a report on Thursday, May 2nd. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their target price on shares of Zoetis from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $115.13.

Shares of Zoetis stock opened at $123.68 on Wednesday. The company has a debt-to-equity ratio of 2.74, a current ratio of 4.17 and a quick ratio of 2.87. The firm has a market cap of $59.19 billion, a P/E ratio of 39.51, a P/E/G ratio of 3.13 and a beta of 0.92. The firm has a 50 day simple moving average of $116.31 and a 200 day simple moving average of $104.22. Zoetis has a fifty-two week low of $78.90 and a fifty-two week high of $125.88.

Several hedge funds have recently made changes to their positions in ZTS. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Zoetis in the 1st quarter valued at $25,000. Glassman Wealth Services grew its holdings in shares of Zoetis by 306.5% in the 1st quarter. Glassman Wealth Services now owns 252 shares of the company’s stock valued at $25,000 after buying an additional 190 shares during the period. JJJ Advisors Inc. acquired a new position in shares of Zoetis in the 2nd quarter valued at $25,000. Private Ocean LLC acquired a new position in shares of Zoetis in the 1st quarter valued at $27,000. Finally, Altshuler Shaham Ltd grew its holdings in shares of Zoetis by 198.8% in the 2nd quarter. Altshuler Shaham Ltd now owns 254 shares of the company’s stock valued at $29,000 after buying an additional 169 shares during the period. 90.08% of the stock is owned by institutional investors.

In other Zoetis news, insider Clinton A. Jr. Lewis sold 6,123 shares of Zoetis stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $123.51, for a total transaction of $756,251.73. Following the completion of the sale, the insider now owns 44,255 shares of the company’s stock, valued at approximately $5,465,935.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristin C. Peck sold 11,500 shares of Zoetis stock in a transaction on Monday, August 12th. The stock was sold at an average price of $123.22, for a total transaction of $1,417,030.00. Following the sale, the executive vice president now directly owns 48,877 shares of the company’s stock, valued at approximately $6,022,623.94. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock valued at $4,520,953 in the last ninety days. Company insiders own 0.29% of the company’s stock.

Zoetis Company Profile

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.

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Earnings History and Estimates for Zoetis (NYSE:ZTS)

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