Eli Lilly and Company (NYSE:LLY) Issues Quarterly Earnings Results

Eli Lilly and Company (NYSE:LLY) released its quarterly earnings data on Wednesday. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34), RTT News reports. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 73.73% and a net margin of 20.48%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. Eli Lilly and Company updated its FY 2024 guidance to 13.020-13.520 EPS and its FY24 guidance to $13.02-13.52 EPS.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded down $10.81 during trading on Friday, reaching $818.93. 5,266,277 shares of the company’s stock traded hands, compared to its average volume of 3,053,977. The stock has a market capitalization of $778.34 billion, a P/E ratio of 88.53, a price-to-earnings-growth ratio of 3.07 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a 50 day moving average of $911.04 and a 200-day moving average of $865.33. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. Eli Lilly and Company’s payout ratio is currently 56.22%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Guggenheim increased their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,025.00 target price on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,009.00.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.