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

Eli Lilly and Company (NYSE:LLY) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $13.02-13.52 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Guggenheim upped their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lifted their target price 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, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.00.

Eli Lilly and Company Stock Down 1.3 %

LLY stock traded down $10.81 during midday 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 1 year low of $561.65 and a 1 year 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. The company has a market capitalization of $778.34 billion, a P/E ratio of 88.53, a PEG ratio of 3.07 and a beta of 0.42. The company has a 50 day moving average of $911.04 and a two-hundred day moving average of $865.33.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities research 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.