Eli Lilly and Company (NYSE:LLY) Announces Earnings Results, Beats Estimates By $0.05 EPS

Eli Lilly and Company (NYSE:LLY) posted its quarterly earnings data on Tuesday. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05, Yahoo Finance reports. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 59.28%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. Eli Lilly and Company updated its FY 2024 guidance to 13.500-14.000 EPS.

Eli Lilly and Company Stock Down 1.9 %

NYSE LLY traded down $14.48 on Thursday, hitting $762.27. 992,691 shares of the company were exchanged, compared to its average volume of 3,041,964. The company has a market cap of $724.28 billion, a PE ratio of 113.06, a PEG ratio of 1.58 and a beta of 0.37. Eli Lilly and Company has a 12 month low of $414.31 and a 12 month high of $800.78. The stock has a fifty day moving average of $762.03 and a 200-day moving average of $669.96. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial upped their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $757.95.

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.