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

by · The Markets Daily

Eli Lilly and Company (NYSE:LLY – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $13.02-13.52 for the period, compared to the consensus earnings per share 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 analysts have issued reports on LLY shares. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Bank of America reduced their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays dropped their price target on 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. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,009.00.

Check Out Our Latest Stock Analysis on LLY

Eli Lilly and Company Trading Down 1.3 %

Shares of LLY traded down $10.81 during mid-day trading on Friday, reaching $818.93. The company had a trading volume of 4,756,603 shares, compared to its average volume of 3,053,977. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The firm has a fifty day simple moving average of $911.04 and a 200-day simple moving average of $865.33. The stock has a market cap 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 current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed 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. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

About Eli Lilly and Company

(Get Free Report)

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.

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