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

Eli Lilly and Company (NYSE:LLY) released its quarterly earnings data on Tuesday. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05, Yahoo Finance reports. Eli Lilly and Company had a return on equity of 59.28% and a net margin of 17.08%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The firm’s quarterly 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 Performance

LLY traded down $14.18 on Thursday, reaching $762.57. 1,186,274 shares of the stock were exchanged, compared to its average volume of 3,044,902. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The company’s 50-day moving average price is $762.03 and its 200 day moving average price is $669.96. The firm has a market capitalization of $724.56 billion, a PE ratio of 113.06, a PEG ratio of 1.58 and a beta of 0.37. Eli Lilly and Company has a fifty-two week low of $414.31 and a fifty-two week high of $800.78.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LLY. Wells Fargo & Company raised their target price on shares of 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. Bank of America lifted their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Citigroup upped their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. Finally, Morgan Stanley upped their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.