Eli Lilly and Company (NYSE:LLY) Releases Earnings Results, Misses Expectations By $0.34 EPS

Eli Lilly and Company (NYSE:LLY) posted its quarterly earnings results on Wednesday. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34), RTT News reports. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. Eli Lilly and Company updated its FY 2024 guidance to 13.020-13.520 EPS and its FY24 guidance to $13.02-13.52 EPS.

Eli Lilly and Company Trading Down 1.3 %

Shares of NYSE LLY traded down $10.81 during trading on Friday, hitting $818.93. 5,266,277 shares of the company traded hands, 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 50-day moving average price of $911.04 and a 200-day moving average price of $865.33. The firm has a market capitalization of $778.34 billion, a P/E ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup lifted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.00.

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.