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

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

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $780.00 on Thursday. The firm has a 50 day moving average of $762.03 and a 200 day moving average of $669.96. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $741.12 billion, a price-to-earnings ratio of 114.40, a price-to-earnings-growth ratio of 1.58 and a beta of 0.37. Eli Lilly and Company has a 12-month low of $414.31 and a 12-month high of $800.78.

Analysts Set New Price Targets

Several analysts recently commented on LLY shares. Truist Financial increased 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 research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Finally, Barclays increased 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 research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.