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

Eli Lilly and Company (NYSE:LLY) released 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. The business had revenue of $8.77 billion during 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%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Eli Lilly and Company updated its FY 2024 guidance to 13.500-14.000 EPS.

Eli Lilly and Company Trading Down 2.4 %

LLY stock traded down $18.78 during mid-day trading on Thursday, reaching $757.97. 1,535,999 shares of the stock traded hands, compared to its average volume of 3,048,735. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a 52-week low of $414.31 and a 52-week high of $800.78. The company has a market cap of $720.19 billion, a P/E ratio of 113.06, a P/E/G ratio of 1.58 and a beta of 0.37. The stock’s fifty day moving average is $762.03 and its 200-day moving average is $669.96.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LLY shares. Bank of America upped 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. The Goldman Sachs Group upped their price objective 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. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a report on Wednesday, February 21st. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.