Zacks Research Has Negative Outlook of LLY FY2024 Earnings

Eli Lilly and Company (NYSE:LLY) – Stock analysts at Zacks Research cut their FY2024 earnings estimates for shares of Eli Lilly and Company in a report released on Wednesday, January 22nd. Zacks Research analyst K. Shah now forecasts that the company will post earnings of $12.72 per share for the year, down from their previous forecast of $13.12. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $12.98 per share. Zacks Research also issued estimates for Eli Lilly and Company’s Q4 2024 earnings at $5.04 EPS, Q1 2025 earnings at $4.49 EPS, Q1 2026 earnings at $6.02 EPS, Q2 2026 earnings at $6.86 EPS and Q3 2026 earnings at $7.90 EPS.

A number of other research firms have also recently issued reports on LLY. Citigroup raised their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Trading Up 1.6 %

Shares of Eli Lilly and Company stock opened at $766.00 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business has a fifty day simple moving average of $776.31 and a two-hundred day simple moving average of $850.93. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year high of $972.53. The company has a market capitalization of $727.18 billion, a price-to-earnings ratio of 82.81, a P/E/G ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company earned $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 56.22%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LLY. Beck Bode LLC bought a new stake in shares of Eli Lilly and Company during the second quarter worth about $15,036,000. AQR Capital Management LLC boosted its position in Eli Lilly and Company by 17.3% during the 2nd quarter. AQR Capital Management LLC now owns 474,552 shares of the company’s stock worth $429,650,000 after buying an additional 70,122 shares during the period. APG Asset Management US Inc. grew its holdings in Eli Lilly and Company by 0.8% during the 2nd quarter. APG Asset Management US Inc. now owns 204,328 shares of the company’s stock worth $186,831,000 after acquiring an additional 1,586 shares during the last quarter. APG Asset Management N.V. increased its position in Eli Lilly and Company by 6.7% in the 2nd quarter. APG Asset Management N.V. now owns 703,220 shares of the company’s stock valued at $594,058,000 after acquiring an additional 44,133 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock valued at $2,741,832,000 after acquiring an additional 22,392 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.