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

Eli Lilly and Company (NYSE:LLY) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $818.93 on Friday. The firm’s 50 day simple moving average is $911.04 and its 200 day simple moving average is $865.33. The firm has a market capitalization of $778.34 billion, a price-to-earnings ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that Eli Lilly and Company will post 13.79 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LLY. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Wells Fargo & Company boosted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup raised 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 report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,009.00.

Eli Lilly and Company Company Profile

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.