Elanco Animal Health (NYSE:ELAN) Releases Q2 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.23-0.26 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $1.145-1.170 billion, compared to the consensus revenue estimate of $1.15 billion. Elanco Animal Health also updated its FY 2024 guidance to 0.880-0.960 EPS.

Elanco Animal Health Stock Up 24.7 %

Shares of ELAN stock traded up $3.34 during trading hours on Wednesday, reaching $16.86. 12,395,233 shares of the company’s stock were exchanged, compared to its average volume of 4,467,200. The company has a market cap of $8.33 billion, a price-to-earnings ratio of -6.76, a P/E/G ratio of 1.42 and a beta of 1.34. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. Elanco Animal Health has a fifty-two week low of $7.88 and a fifty-two week high of $17.23. The stock’s 50 day moving average is $14.96 and its 200-day moving average is $14.02.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TheStreet upgraded shares of Elanco Animal Health from a d+ rating to a c- rating in a research note on Friday, February 23rd. Barclays increased their price target on shares of Elanco Animal Health from $18.00 to $19.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Morgan Stanley raised their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group upped their price objective 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $16.71.

Insider Buying and Selling

In other news, Director R David Hoover purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the purchase, the director now directly owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.57% of the stock is 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.