Eli Lilly and Company (NYSE:LLY) Posts Quarterly Earnings Results, Misses Estimates By $0.35 EPS

Eli Lilly and Company (NYSE:LLY) announced its earnings results on Wednesday. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.35), RTT News reports. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. 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 6.1 %

LLY stock traded down $54.83 during midday trading on Wednesday, hitting $848.75. The stock had a trading volume of 12,530,840 shares, compared to its average volume of 2,999,998. 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 business has a fifty day moving average price of $918.30 and a two-hundred day moving average price of $865.23. Eli Lilly and Company has a 1-year low of $547.61 and a 1-year high of $972.53. The firm has a market cap of $806.66 billion, a P/E ratio of 125.14, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company Announces Dividend

The company also recently declared 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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Citigroup boosted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target 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.