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

Eli Lilly and Company (NYSE:LLY) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 13.500-14.000 for the period, compared to the consensus estimate of 12.500. The company issued revenue guidance of $42.4 billion-$43.6 billion, compared to the consensus revenue estimate of $41.4 billion.

Eli Lilly and Company Price Performance

LLY traded up $32.60 on Tuesday, hitting $769.80. 4,655,903 shares of the stock were exchanged, compared to its average volume of 3,036,286. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. Eli Lilly and Company has a 12 month low of $392.26 and a 12 month high of $800.78. The business has a 50-day moving average of $760.89 and a two-hundred day moving average of $668.00. The firm has a market capitalization of $731.43 billion, a price-to-earnings ratio of 134.72, a PEG ratio of 1.60 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 12.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LLY shares. BMO Capital Markets raised their price target on Eli Lilly and Company from $710.00 to $865.00 and gave the company an outperform rating in a report on Wednesday, February 7th. Barclays lifted their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. TheStreet raised shares of Eli Lilly and Company from a c+ rating to a b rating in a research note on Friday, March 8th. Bank of America raised their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a buy rating in a report on Friday, March 1st. Finally, Erste Group Bank upgraded shares of Eli Lilly and Company from a hold rating to a buy rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $728.05.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.