Zacks: Brokerages Anticipate Zoetis Inc. (ZTS) Will Announce Quarterly Sales of $1.33 Billion
Brokerages forecast that Zoetis Inc. (NYSE:ZTS) will announce $1.33 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Zoetis’ earnings. The lowest sales estimate is $1.31 billion and the highest is $1.33 billion. Zoetis posted sales of $1.24 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that Zoetis will report full year sales of $1.33 billion for the current year, with estimates ranging from $5.17 billion to $5.25 billion. For the next year, analysts forecast that the business will report sales of $5.54 billion per share, with estimates ranging from $5.46 billion to $5.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Zoetis.
Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Zoetis had a return on equity of 62.49% and a net margin of 17.50%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.49 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year.
A number of brokerages have recently issued reports on ZTS. Zacks Investment Research cut shares of Zoetis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Hilliard Lyons initiated coverage on shares of Zoetis in a research report on Tuesday, June 20th. They issued a “buy” rating and a $77.00 target price on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 target price (up previously from $62.00) on shares of Zoetis in a research report on Monday, July 17th. Stifel Nicolaus reissued a “buy” rating and issued a $65.00 price target on shares of Zoetis in a research note on Friday, July 21st. Finally, Cantor Fitzgerald set a $75.00 price target on shares of Zoetis and gave the stock a “buy” rating in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $65.76.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Zoetis by 2,471.1% in the first quarter. BlackRock Inc. now owns 36,082,470 shares of the company’s stock valued at $1,925,722,000 after acquiring an additional 34,679,064 shares in the last quarter. Morgan Stanley increased its position in Zoetis by 182.5% during the 1st quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock valued at $780,119,000 after purchasing an additional 9,442,207 shares during the period. Janus Henderson Group PLC increased its position in Zoetis by 7,717.4% during the 2nd quarter. Janus Henderson Group PLC now owns 5,809,086 shares of the company’s stock valued at $362,372,000 after purchasing an additional 5,734,776 shares during the period. Marshall Wace North America L.P. purchased a new position in Zoetis during the 1st quarter valued at $243,854,000. Finally, Alliancebernstein L.P. increased its position in Zoetis by 55.4% during the 2nd quarter. Alliancebernstein L.P. now owns 10,370,388 shares of the company’s stock valued at $646,905,000 after purchasing an additional 3,695,449 shares during the period. 93.20% of the stock is currently owned by hedge funds and other institutional investors.
Zoetis (ZTS) traded down 0.25% during midday trading on Friday, hitting $63.59. The company’s stock had a trading volume of 1,809,492 shares. Zoetis has a 52-week low of $46.86 and a 52-week high of $65.83. The stock has a 50 day moving average of $63.19 and a 200 day moving average of $60.38. The company has a market cap of $31.10 billion, a PE ratio of 35.95 and a beta of 1.02.
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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