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Why Zoetis (ZTS) Dipped More Than Broader Market Today
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Zoetis (ZTS - Free Report) closed the most recent trading day at $165.69, moving -0.1% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.04%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.03%.
Prior to today's trading, shares of the animal health company had lost 8.95% over the past month. This has lagged the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57% in that time.
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. On that day, Zoetis is projected to report earnings of $1.35 per share, which would represent year-over-year growth of 3.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.14 billion, up 7.03% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $5.80 per share and a revenue of $9.16 billion, demonstrating changes of +9.02% and +7.17%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Zoetis. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Zoetis is carrying a Zacks Rank of #4 (Sell).
Investors should also note Zoetis's current valuation metrics, including its Forward P/E ratio of 28.62. This signifies a premium in comparison to the average Forward P/E of 15.23 for its industry.
One should further note that ZTS currently holds a PEG ratio of 2.53. 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 1.4 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why Zoetis (ZTS) Dipped More Than Broader Market Today
Zoetis (ZTS - Free Report) closed the most recent trading day at $165.69, moving -0.1% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.04%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.03%.
Prior to today's trading, shares of the animal health company had lost 8.95% over the past month. This has lagged the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57% in that time.
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. On that day, Zoetis is projected to report earnings of $1.35 per share, which would represent year-over-year growth of 3.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.14 billion, up 7.03% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $5.80 per share and a revenue of $9.16 billion, demonstrating changes of +9.02% and +7.17%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Zoetis. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Zoetis is carrying a Zacks Rank of #4 (Sell).
Investors should also note Zoetis's current valuation metrics, including its Forward P/E ratio of 28.62. This signifies a premium in comparison to the average Forward P/E of 15.23 for its industry.
One should further note that ZTS currently holds a PEG ratio of 2.53. 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 1.4 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.