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

Elanco Animal Health (NYSE:ELAN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.88-0.96 for the period, compared to the consensus estimate of $0.94. The company issued revenue guidance of $4.41-4.46 billion, compared to the consensus revenue estimate of $4.46 billion. Elanco Animal Health also updated its FY 2024 guidance to 0.880-0.960 EPS.

Elanco Animal Health Stock Performance

Shares of ELAN traded up $0.05 during mid-day trading on Friday, hitting $13.04. The company’s stock had a trading volume of 4,922,213 shares, compared to its average volume of 4,884,853. Elanco Animal Health has a one year low of $8.52 and a one year high of $18.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.96 and a current ratio of 3.29. The firm has a market capitalization of $6.44 billion, a PE ratio of -4.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.42. The stock’s 50-day moving average is $15.02 and its two-hundred day moving average is $15.38.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. Elanco Animal Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Elanco Animal Health will post 0.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays cut their target price on Elanco Animal Health from $23.00 to $21.00 and set an overweight rating for the company in a research note on Friday, June 28th. Piper Sandler cut their target price on Elanco Animal Health from $19.00 to $16.00 and set a neutral rating for the company in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued 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 target price of $17.57.

Insiders Place Their Bets

In other Elanco Animal Health news, Director William F. Doyle bought 15,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the completion of the purchase, the director now owns 76,330 shares in the company, valued at approximately $1,296,083.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.