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ZTS

Zoetis

$73.36

0.83 (1.14%)

08:26
01/08/18
01/08
08:26
01/08/18
08:26

Zoetis sees being subject to repatriation tax

In a regulatory filing, Zoetis noted that the Tax Act was enacted which, among other changes, reduces the federal corporate tax rate from 35% to 21% effective January 1, 2018. As a result of a preliminary review of the Tax Act, Zoetis has concluded that the company will be subject to a repatriation tax and will be required to remeasure deferred tax assets and liabilities as of the date of enactment due to the reduction in the federal corporate tax rate. The company is currently in the process of evaluating the impact of the Tax Act and based on available information at the time of this filing, has preliminarily estimated that there will be a net reduction to the company's U.S. generally accepted accounting principles net income in the fourth quarter of 2017 which is currently not expected to exceed $350M. This amount represents the undiscounted present value and is primarily due to the repatriation tax, partially offset by the remeasurement of deferred tax assets and liabilities at the lower enacted federal corporate tax rate. This charge will not impact the company's 2017 adjusted net income. Additionally, for full-year 2018, the company currently expects its non-GAAP adjusted effective tax rate to be in the range of 21% to 22%. "However, the company's actual adjusted effective tax rate may differ materially from management's current expectations...The ultimate impact of the Tax Act may differ from these preliminary estimates, possibly materially, as a result of, among other things, changes in assumptions the Company has made, actions the Company may take as a result of the Tax Act, additional guidance that may be forthcoming on its application, as well as final interpretations of the Tax Act by the Company," Zoetis added.

  • 08

    Jan

  • 15

    Feb

ZTS Zoetis
$73.36

0.83 (1.14%)

12/14/17
HDLY
12/14/17
NO CHANGE
HDLY
Hilliard Lyons Top Ideas for Year-End 2017
Hilliard Lyons Research named its Top Ideas for Year-End 2017. They are: Pinnacle Financial (PNFP), Disney (DIS), J.M. Smucker (SJM), NextEra Energy (NEE), Zoetis (ZTS), Leggett & Platt (LEG), South Jersey Industries (SJI), Tanger Factory (SKT), Physicians Realty Trust (DOC), VMware (VMW), AT&T (T), and American Water (AWK).
12/22/17
CANT
12/22/17
NO CHANGE
CANT
Cantor ups price targets for Teva, Valeant, Mylan, Zoetis
Cantor Fitzgerald analyst Louise Chen raised her price target for Neutral-rated Teva (TEVA) to $18 from $10, for Overweight-rated Valeant (VRX) to $25 from $23, for Neutral-Mylan (MYL) to $41 from $34 and for Overweight-rated Zoetis (ZTS) to $85 from $80. Heading into 2018, the analyst believes Perrigo (PRGO) has the best setup in the Specialty Pharmaceuticals space. The company has given the most visibility on its outlook for 2018, Chen tells investors in a research note. She believes Zoetis, Mylan and Horizon Pharma (HZNP) also look good into next year.
01/02/18
CHLM
01/02/18
NO CHANGE
Target $85
CHLM
Buy
Zoetis price target raised to $85 from $77 at Craig-Hallum
Craig-Hallum analyst Kevin Ellich raised his price target for Zoetis to $85 from $77 as he believes colder temperatures instill confidence in sales of premium products and revenue projections. The analyst reiterates a Buy rating on the shares.
01/04/18
SBSH
01/04/18
UPGRADE
Target $85
SBSH
Buy
Zoetis upgraded to Buy from Neutral at Citi
Citi analyst Liav Abraham upgraded Zoetis (ZTS) to Buy and raised her price target for the shares to $85 from $67. The analyst "more constructive" on the Specialty Pharma group heading into 2018. More realistic expectations, along with pipeline catalysts set the stage for a potential inflection point for some of the stocks in 2018, Abraham tells investors in a research note on the sector. She expects continued commercial execution across Zoetis' portfolio and sees potential for continued topline growth in 2018. Mylan (MYL) is Abraham's top pick for 2018.

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SSRM

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GSM

Ferroglobe

$11.35

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