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.

Wall Street Analyst Weigh In

A number of brokerages have commented on LLY. 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 note on Thursday, October 3rd. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Bank of America lifted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Morgan Stanley reissued an “overweight” rating and issued 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 given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Trading Up 0.9 %

NYSE LLY opened at $904.05 on Wednesday. The stock has a market capitalization of $859.21 billion, a price-to-earnings ratio of 133.14, a PEG ratio of 3.24 and a beta of 0.42. The business’s fifty day moving average is $918.30 and its 200-day moving average is $865.23. 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 one year low of $547.61 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.35). Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 14.05 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.