Eli Lilly and Company (NYSE:LLY) Announces $1.30 Quarterly Dividend

Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Friday, November 15th will be paid a dividend of 1.30 per share on Tuesday, December 10th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Friday, November 15th.

Eli Lilly and Company has raised its dividend by an average of 15.2% annually over the last three years. Eli Lilly and Company has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly and Company to earn $24.24 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 21.5%.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $904.05 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53. The firm has a market capitalization of $859.21 billion, a P/E ratio of 133.14, a P/E/G ratio of 3.24 and a beta of 0.42. The company’s fifty day moving average price is $918.30 and its 200 day moving average price is $865.23.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, sell-side analysts predict that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

LLY has been the subject of several research reports. Bank of America upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Three equities 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 presently has a consensus rating of “Moderate Buy” and an average target price of $1,013.41.

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.