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

Elanco Animal Health (NYSE:ELAN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.880-0.960 for the period, compared to the consensus estimate of 0.920. The company issued revenue guidance of $4.5 billion-$4.5 billion, compared to the consensus revenue estimate of $4.5 billion. Elanco Animal Health also updated its FY24 guidance to $0.88-0.96 EPS.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELAN. The Goldman Sachs Group boosted their price target on Elanco Animal Health from $12.50 to $14.00 and gave the company a sell rating in a research note on Tuesday, February 27th. TheStreet upgraded Elanco Animal Health from a d+ rating to a c- rating in a research note on Friday, February 23rd. Barclays boosted their price objective on Elanco Animal Health from $18.00 to $19.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Finally, Morgan Stanley boosted their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health presently has an average rating of Moderate Buy and an average target price of $16.71.

Elanco Animal Health Price Performance

NYSE ELAN traded up $3.38 during trading hours on Wednesday, reaching $16.90. The company’s stock had a trading volume of 10,798,967 shares, compared to its average volume of 4,450,793. The firm’s 50-day moving average price is $14.96 and its 200-day moving average price is $14.02. The company has a quick ratio of 1.35, a current ratio of 2.75 and a debt-to-equity ratio of 0.92. Elanco Animal Health has a 1 year low of $7.88 and a 1 year high of $17.23. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of -6.76, a PEG ratio of 1.42 and a beta of 1.34.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. On average, equities research analysts predict that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Insider Activity at Elanco Animal Health

In related news, Director R David Hoover purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the acquisition, the director now owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by insiders.

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.