Eli Lilly and Company (NYSE:LLY) Announces Earnings Results

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

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $780.00 on Thursday. The firm has a market cap of $741.12 billion, a price-to-earnings ratio of 114.40, a P/E/G ratio of 1.58 and a beta of 0.37. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. Eli Lilly and Company has a 52 week low of $414.31 and a 52 week high of $800.78. The firm’s 50-day simple moving average is $762.03 and its two-hundred day simple moving average is $669.96.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays lifted their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a report on Wednesday, February 21st. Finally, Truist Financial lifted their price objective on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.