Elanco Animal Health (NYSE:ELAN) Updates FY24 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.88-0.96 for the period, compared to the consensus estimate of $0.92. The company issued revenue guidance of $4.460-4.515 billion, compared to the consensus revenue estimate of $4.50 billion. Elanco Animal Health also updated its FY 2024 guidance to 0.880-0.960 EPS.

Elanco Animal Health Price Performance

NYSE:ELAN traded up $3.34 during mid-day trading on Wednesday, reaching $16.86. The stock had a trading volume of 12,395,233 shares, compared to its average volume of 4,467,200. The stock has a 50-day simple moving average of $14.96 and a two-hundred day simple moving average of $14.02. The stock has a market capitalization of $8.33 billion, a PE ratio of -6.76, a P/E/G ratio of 1.42 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.75 and a quick ratio of 1.35. Elanco Animal Health has a 12 month low of $7.88 and a 12 month high of $17.23.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. On average, equities analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the stock a sell rating in a research note on Tuesday, February 27th. Barclays boosted their price objective on shares of Elanco Animal Health from $18.00 to $19.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. TheStreet raised Elanco Animal Health from a d+ rating to a c- rating in a research note on Friday, February 23rd. Finally, Morgan Stanley raised their target price on Elanco Animal Health from $16.00 to $17.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $16.71.

Insiders Place Their Bets

In related news, Director R David Hoover bought 20,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the acquisition, the director now directly owns 185,000 shares of the company’s stock, valued at $2,985,900. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

About Elanco Animal Health

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.