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

Eli Lilly and Company (NYSE:LLY) issued its quarterly earnings results on Tuesday. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05, Yahoo Finance reports. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period last year, the business earned $1.62 earnings per share. The business’s quarterly revenue was up 26.0% on a year-over-year basis. Eli Lilly and Company updated its FY 2024 guidance to 13.500-14.000 EPS.

Eli Lilly and Company Stock Down 0.8 %

Eli Lilly and Company stock traded down $6.27 on Wednesday, hitting $774.83. 1,022,920 shares of the stock traded hands, compared to its average volume of 3,045,947. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market cap of $736.21 billion, a P/E ratio of 133.76, a price-to-earnings-growth ratio of 1.61 and a beta of 0.34. The business’s fifty day simple moving average is $761.41 and its 200 day simple moving average is $669.21. Eli Lilly and Company has a 1 year low of $399.26 and a 1 year high of $800.78.

Analyst Ratings Changes

LLY has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial increased their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Citigroup increased their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $736.15.

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.