Eli Lilly and Company (NYSE:LLY) Announces Earnings Results

Eli Lilly and Company (NYSE:LLY) posted its quarterly earnings results on Wednesday. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34), RTT News reports. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. 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

LLY traded down $10.81 during trading on Friday, reaching $818.93. The company’s stock had a trading volume of 5,266,277 shares, compared to its average volume of 3,053,977. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company’s fifty day moving average price is $911.04 and its 200-day moving average price is $865.33. The company has a market capitalization of $778.34 billion, a price-to-earnings ratio of 88.53, a price-to-earnings-growth ratio of 3.07 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company Announces Dividend

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

Analyst Ratings Changes

LLY has been the topic of several research reports. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.