Eli Lilly and Company (NYSE:LLY) Releases FY 2024 Earnings Guidance

Eli Lilly and Company (NYSE:LLY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 13.020-13.520 for the period, compared to the consensus earnings per share estimate of 13.470. The company issued revenue guidance of $45.4 billion-$46.0 billion, compared to the consensus revenue estimate of $46.2 billion. Eli Lilly and Company also updated its FY24 guidance to $13.02-13.52 EPS.

Analyst Ratings Changes

Several brokerages have issued reports on LLY. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,009.00.

Eli Lilly and Company Trading Down 1.3 %

Shares of LLY traded down $10.81 during trading hours on Friday, hitting $818.93. The stock had a trading volume of 4,756,603 shares, compared to its average volume of 3,053,977. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The firm has a market cap of $778.34 billion, a P/E ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The company’s fifty day simple moving average is $913.71 and its 200 day simple moving average is $864.86.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities research analysts forecast that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 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.