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

Eli Lilly and Company (NYSE:LLY) issued its quarterly earnings results on Tuesday. The company reported $2.58 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the previous year, the company earned $1.62 EPS. Eli Lilly and Company’s revenue 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 Down 2.4 %

Shares of LLY stock traded down $18.78 during trading on Thursday, reaching $757.97. The company’s stock had a trading volume of 1,535,999 shares, compared to its average volume of 3,048,735. The business has a fifty day moving average price of $762.03 and a 200-day moving average price of $669.96. 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 company has a market cap of $720.19 billion, a price-to-earnings ratio of 113.06, a price-to-earnings-growth ratio of 1.58 and a beta of 0.37. Eli Lilly and Company has a one year low of $414.31 and a one year high of $800.78.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Bank of America lifted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. 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. Barclays boosted 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 report on Wednesday, February 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective (up previously from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.