Eli Lilly and Company (NYSE:LLY) Updates FY24 Earnings Guidance

Eli Lilly and Company (NYSE:LLY) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $13.02-13.52 for the period, compared to the consensus estimate of $13.42. The company issued revenue guidance of $45.4-46.0 billion, compared to the consensus revenue estimate of $46.24 billion. Eli Lilly and Company also updated its FY 2024 guidance to 13.020-13.520 EPS.

Analysts Set New Price Targets

Several research firms have commented on LLY. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a report on Thursday, October 3rd. Guggenheim lifted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Bank of America lifted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.41.

Eli Lilly and Company Trading Down 12.1 %

Shares of LLY traded down $109.31 during trading hours on Wednesday, hitting $794.27. 5,028,913 shares of the stock traded hands, compared to its average volume of 2,965,698. The business has a fifty day moving average of $918.30 and a 200-day moving average of $865.23. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $754.88 billion, a PE ratio of 114.58, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $547.61 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.35). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Analysts expect that Eli Lilly and Company will post 14.05 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

About Eli Lilly and Company

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.