Elanco Animal Health (NYSE:ELAN) Releases FY 2024 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.890-0.950 for the period, compared to the consensus EPS estimate of 0.920. The company issued revenue guidance of $4.4 billion-$4.5 billion, compared to the consensus revenue estimate of $4.4 billion. Elanco Animal Health also updated its Q4 guidance to $0.13-$0.18 EPS.

Analyst Ratings Changes

Several research firms recently weighed in on ELAN. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. Finally, Barclays dropped their price objective on Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Elanco Animal Health Stock Up 1.5 %

ELAN stock opened at $12.86 on Thursday. Elanco Animal Health has a fifty-two week low of $9.62 and a fifty-two week high of $18.80. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of -5.04, a PEG ratio of 1.31 and a beta of 1.41. The business’s fifty day moving average price is $13.97 and its two-hundred day moving average price is $14.72.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. Elanco Animal Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.18 earnings per share. On average, equities analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey N. Simmons purchased 100,000 shares of Elanco Animal Health stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The trade was a 200.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Elanco Animal Health news, Director Michael J. Harrington purchased 3,500 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. This trade represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

Elanco Animal Health Company Profile

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.