Elanco Animal Health (NYSE:ELAN) Issues Q2 2024 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.230-0.260 for the period, compared to the consensus EPS estimate of 0.240. The company issued revenue guidance of $1.1 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. Elanco Animal Health also updated its FY 2024 guidance to 0.880-0.960 EPS.

Analysts Set New Price Targets

ELAN has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Barclays boosted their price target on shares of Elanco Animal Health from $18.00 to $19.00 and gave the company an overweight rating in a report on Tuesday, February 27th. TheStreet upgraded shares of Elanco Animal Health from a d+ rating to a c- rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a sell rating in a report on Tuesday, February 27th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $16.71.

Elanco Animal Health Stock Performance

ELAN stock traded up $3.38 during mid-day trading on Wednesday, reaching $16.90. 10,798,967 shares of the stock traded hands, compared to its average volume of 4,450,793. The business has a 50-day moving average of $14.96 and a two-hundred day moving average of $14.02. The firm has a market capitalization of $8.35 billion, a PE ratio of -6.60, a P/E/G ratio of 1.42 and a beta of 1.34. 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 52 week low of $7.88 and a 52 week high of $17.23.

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

Insider Buying and Selling

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $16.14 per share, with a total value of $322,800.00. Following the completion of the transaction, 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 is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Elanco Animal Health Company Profile

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.