Eli Lilly and Company (NYSE:LLY) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Eli Lilly and Company (NYSE:LLY) announced its quarterly earnings results on Tuesday. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05, Yahoo Finance reports. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 59.28%. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 EPS. Eli Lilly and Company updated its FY 2024 guidance to 13.500-14.000 EPS.

Eli Lilly and Company Trading Down 1.8 %

Eli Lilly and Company stock traded down $14.18 during trading hours on Thursday, reaching $762.57. 1,186,274 shares of the company’s stock were exchanged, compared to its average volume of 3,044,902. The firm’s 50 day simple moving average is $762.03 and its 200 day simple moving average is $669.96. Eli Lilly and Company has a twelve month low of $414.31 and a twelve month high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $724.56 billion, a PE ratio of 113.06, a PEG ratio of 1.58 and a beta of 0.37.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LLY shares. Bank of America lifted their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Truist Financial upped their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.