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

Eli Lilly and Company (NYSE:LLYGet Free Report) 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.

Check Out Our Latest Report on Eli Lilly and Company

About Eli Lilly and Company

(Get Free Report)

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.

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Earnings History for Eli Lilly and Company (NYSE:LLY)

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