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

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

Eli Lilly and Company Price Performance

NYSE:LLY traded down $14.48 during midday trading on Thursday, hitting $762.27. 992,691 shares of the stock were exchanged, compared to its average volume of 3,041,964. Eli Lilly and Company has a one year low of $414.31 and a one year high of $800.78. The company has a market capitalization of $724.28 billion, a price-to-earnings ratio of 113.06, a P/E/G ratio of 1.58 and a beta of 0.37. The business has a 50-day moving average price of $762.03 and a two-hundred day moving average price 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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on 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. The Goldman Sachs Group lifted their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Barclays lifted their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Citigroup lifted their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Truist Financial lifted their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average 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.