Eli Lilly and Company (NYSE:LLY) Updates FY 2024 Earnings Guidance

Eli Lilly and Company (NYSE:LLY) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 13.500-14.000 for the period, compared to the consensus earnings per share estimate of 12.500. The company issued revenue guidance of $42.4 billion-$43.6 billion, compared to the consensus revenue estimate of $41.4 billion.

Analysts Set New Price Targets

A number of analysts have commented on LLY shares. Barclays boosted their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. BMO Capital Markets upped their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an outperform rating in a research report on Wednesday. Truist Financial lifted their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the company a buy rating in a research report on Wednesday. DZ Bank downgraded Eli Lilly and Company from a buy rating to a hold rating and set a $820.00 price objective on the stock. in a research note on Wednesday, February 21st. Finally, Bank of America raised their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a buy rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and seventeen have assigned 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 $757.95.

Eli Lilly and Company Trading Down 2.8 %

NYSE LLY traded down $20.94 on Friday, hitting $734.97. 4,535,213 shares of the stock were exchanged, compared to its average volume of 3,087,178. The company’s 50-day moving average price is $761.75 and its two-hundred day moving average price is $670.56. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 0.73. Eli Lilly and Company has a 52-week low of $419.80 and a 52-week high of $800.78. The company has a market capitalization of $698.52 billion, a price-to-earnings ratio of 108.24, a P/E/G ratio of 1.57 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’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 company posted $1.62 earnings per share. Research analysts predict that Eli Lilly and Company will post 13.49 EPS for the current year.

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.