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

Eli Lilly and Company (NYSE:LLY) 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.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $10.81 during midday trading on Friday, hitting $818.93. The stock had a trading volume of 4,756,603 shares, compared to its average volume of 3,053,977. The firm’s fifty day moving average is $911.04 and its two-hundred day moving average is $865.33. The company has a market capitalization of $778.34 billion, a PE ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. 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) last released its earnings results 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 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 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. On average, research analysts forecast that Eli Lilly and Company will post 13.79 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

Analysts Set New Price Targets

LLY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,025.00 price target on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Guggenheim upped their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.00.

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.