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Zoetis (ZTS) Stock Dips While Market Gains: Key Facts

In the latest trading session, Zoetis (ZTS) closed at $145.54, marking a -0.66% move from the previous day. This change lagged the S&P 500's daily gain of 0.87%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 1.11%.

Shares of the animal health company have depreciated by 13.26% over the course of the past month, underperforming the Medical sector's loss of 6.67% and the S&P 500's loss of 3.97%.

Market participants will be closely following the financial results of Zoetis in its upcoming release. The company plans to announce its earnings on May 2, 2024. In that report, analysts expect Zoetis to post earnings of $1.35 per share. This would mark year-over-year growth of 3.05%. Our most recent consensus estimate is calling for quarterly revenue of $2.14 billion, up 6.84% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.79 per share and a revenue of $9.15 billion, signifying shifts of +8.83% and +7.09%, respectively, from the last year.

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Investors might also notice recent changes to analyst estimates for Zoetis. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Right now, Zoetis possesses a Zacks Rank of #4 (Sell).

In terms of valuation, Zoetis is currently trading at a Forward P/E ratio of 25.31. Its industry sports an average Forward P/E of 13.23, so one might conclude that Zoetis is trading at a premium comparatively.

One should further note that ZTS currently holds a PEG ratio of 2.24. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ZTS's industry had an average PEG ratio of 1.37 as of yesterday's close.

The Medical - Drugs industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 147, finds itself in the bottom 42% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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