Eli Lilly and Company (NYSE:LLY) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Eli Lilly and Company (NYSE:LLY) announced its earnings results on Tuesday. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05, Yahoo Finance reports. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 59.28%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period last year, the firm posted $1.62 earnings per share. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. Eli Lilly and Company updated its FY 2024 guidance to 13.500-14.000 EPS.

Eli Lilly and Company Stock Down 2.7 %

Eli Lilly and Company stock traded down $20.84 during mid-day trading on Thursday, reaching $755.91. The stock had a trading volume of 3,132,496 shares, compared to its average volume of 3,068,678. Eli Lilly and Company has a one year low of $414.31 and a one year high of $800.78. The company has a 50-day moving average price of $762.03 and a two-hundred day moving average price of $669.96. The company has a market capitalization of $718.24 billion, a price-to-earnings ratio of 111.71, a PEG ratio of 1.58 and a beta of 0.37. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73.

Analyst Ratings Changes

A number of research analysts recently commented on LLY shares. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Barclays boosted their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley lifted their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $757.95.

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.