Eli Lilly and Company to Issue Quarterly Dividend of $1.30 (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) announced a quarterly dividend on Monday, May 6th, RTT News reports. Stockholders of record on Thursday, May 16th will be paid a dividend of 1.30 per share on Monday, June 10th. This represents a $5.20 annualized dividend and a dividend yield of 0.68%.

Eli Lilly and Company has raised its dividend payment by an average of 15.2% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Eli Lilly and Company has a payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly and Company to earn $18.86 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 27.6%.

Eli Lilly and Company Trading Up 4.3 %

Shares of NYSE LLY opened at $766.74 on Tuesday. Eli Lilly and Company has a fifty-two week low of $419.80 and a fifty-two week high of $800.78. The firm has a market capitalization of $728.72 billion, a P/E ratio of 112.92, a P/E/G ratio of 1.45 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The company’s 50 day simple moving average is $760.96 and its 200 day simple moving average is $673.52.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, analysts predict that Eli Lilly and Company will post 13.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LLY. Truist Financial raised their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Citigroup boosted their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $757.95.

About Eli Lilly and Company

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.