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 earnings per share (EPS) guidance of $13.02-13.52 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Berenberg Bank raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. 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. BMO Capital Markets raised their price objective 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. Finally, Citigroup raised their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,009.00.

Eli Lilly and Company Trading Down 1.3 %

Eli Lilly and Company stock traded down $10.81 during mid-day trading on Friday, hitting $818.93. 4,756,603 shares of the stock were exchanged, compared to its average volume of 3,053,977. 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 has a 12 month low of $561.65 and a 12 month high of $972.53. The firm’s fifty day simple moving average is $911.04 and its two-hundred day simple moving average is $865.33. The stock has a market capitalization of $778.34 billion, a price-to-earnings ratio of 88.53, a PEG ratio of 3.07 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly 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). Eli Lilly and Company had a return on equity of 73.73% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts forecast that Eli Lilly and Company will post 13.79 EPS for the current year.

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 given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

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.