Elanco Animal Health (NYSE:ELAN) Updates FY 2024 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.880-0.960 for the period, compared to the consensus estimate of 0.940. The company issued revenue guidance of $4.4 billion-$4.5 billion, compared to the consensus revenue estimate of $4.5 billion. Elanco Animal Health also updated its FY24 guidance to $0.88-0.96 EPS.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN traded up $0.05 during trading on Friday, reaching $13.04. The company had a trading volume of 4,922,213 shares, compared to its average volume of 4,884,853. The company has a fifty day moving average of $15.02 and a two-hundred day moving average of $15.38. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $6.44 billion, a P/E ratio of -4.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.42. Elanco Animal Health has a 12 month low of $8.52 and a 12 month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Elanco Animal Health will post 0.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays dropped their target price on Elanco Animal Health from $23.00 to $21.00 and set an overweight rating for the company in a research report on Friday, June 28th. Piper Sandler lowered their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a neutral rating for the company in a report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health currently has a consensus rating of Moderate Buy and an average target price of $17.57.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director William F. Doyle bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average cost of $16.98 per share, with a total value of $254,700.00. Following the completion of the purchase, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is currently owned by company insiders.

About Elanco Animal Health

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.