Eli Lilly and Company (NYSE:LLY) Declares Quarterly Dividend of $1.30

Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, May 6th, RTT News reports. Stockholders of record on Thursday, May 16th will be given a dividend of 1.30 per share on Monday, June 10th. This represents a $5.20 annualized dividend and a dividend yield of 0.68%.

Eli Lilly and Company has raised its dividend payment by an average of 15.2% per year over the last three years and has raised its dividend every year for the last 10 years. Eli Lilly and Company has a dividend payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly and Company to earn $18.86 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 27.6%.

Eli Lilly and Company Stock Up 3.5 %

Shares of LLY traded up $25.39 during mid-day trading on Monday, hitting $760.36. 1,787,258 shares of the company’s stock were exchanged, compared to its average volume of 3,071,777. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $800.78. The company has a market cap of $722.65 billion, a PE ratio of 111.10, a P/E/G ratio of 1.45 and a beta of 0.37. The company has a 50-day simple moving average of $761.06 and a 200 day simple moving average of $672.28.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 earnings per share. On average, research analysts forecast that Eli Lilly and Company will post 13.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LLY shares. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective (up from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday, April 30th. Morgan Stanley lifted their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Bank of America boosted their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $757.95.

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.