Eli Lilly and Company (NYSE:LLY) Issues FY 2024 Earnings Guidance

Eli Lilly and Company (NYSE:LLY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 13.020-13.520 for the period, compared to the consensus earnings per share estimate of 13.470. The company issued revenue guidance of $45.4 billion-$46.0 billion, compared to the consensus revenue estimate of $46.2 billion. Eli Lilly and Company also updated its FY24 guidance to $13.02-13.52 EPS.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price objective on 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. Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Guggenheim raised their price objective on 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. Finally, Morgan Stanley restated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,009.00.

Eli Lilly and Company Stock Down 1.3 %

Shares of LLY stock traded down $10.81 on Friday, reaching $818.93. 4,756,603 shares of the stock were exchanged, compared to its average volume of 3,053,977. The company has a market capitalization of $778.34 billion, a price-to-earnings ratio of 88.53, a PEG ratio of 3.07 and a beta of 0.42. The business’s 50 day moving average price is $913.71 and its 200 day moving average price is $864.86. 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 has a twelve month low of $561.65 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 73.73% and a net margin of 20.48%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.79 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company 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 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.