Eli Lilly and Company (NYSE:LLY) Releases Earnings Results, Misses Estimates By $0.13 EPS

Eli Lilly and Company (NYSE:LLY) announced its quarterly earnings data on Thursday. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13), Zacks reports. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%.

Eli Lilly and Company Price Performance

LLY stock traded up $28.38 during mid-day trading on Thursday, reaching $870.56. 7,091,003 shares of the company traded hands, compared to its average volume of 3,937,640. Eli Lilly and Company has a 52-week low of $707.02 and a 52-week high of $972.53. The company has a market capitalization of $826.44 billion, a P/E ratio of 94.11, a P/E/G ratio of 1.72 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a fifty day moving average price of $786.57 and a 200-day moving average price of $843.28.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. StockNews.com downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

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.