Brokers Set Expectations for Eli Lilly and Company’s FY2024 Earnings (NYSE:LLY)

Eli Lilly and Company (NYSE:LLYFree Report) – Cantor Fitzgerald upped their FY2024 EPS estimates for shares of Eli Lilly and Company in a research note issued on Wednesday, February 7th. Cantor Fitzgerald analyst L. Chen now expects that the company will earn $12.20 per share for the year, up from their prior estimate of $11.00. Cantor Fitzgerald has a “Overweight” rating and a $630.00 price objective on the stock. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $12.60 per share.

LLY has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, November 9th. They set a “hold” rating and a $535.00 price objective for the company. TheStreet lowered shares of Eli Lilly and Company from a “b” rating to a “c+” rating in a research report on Monday, December 4th. Morgan Stanley increased their price target on shares of Eli Lilly and Company from $763.00 to $805.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial increased their price objective on Eli Lilly and Company from $650.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays increased their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $621.81.

Get Our Latest Research Report on Eli Lilly and Company

Eli Lilly and Company Price Performance

LLY stock opened at $735.56 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.82 and a debt-to-equity ratio of 1.59. Eli Lilly and Company has a one year low of $309.20 and a one year high of $742.00. The firm has a market capitalization of $698.27 billion, a PE ratio of 126.82, a P/E/G ratio of 2.06 and a beta of 0.32. The firm has a 50-day moving average of $616.90 and a two-hundred day moving average of $578.22.

Eli Lilly and Company (NYSE:LLYGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 50.78%. The company had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the company earned $2.09 EPS. Eli Lilly and Company’s revenue was up 28.1% on a year-over-year basis.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $3,416,206,000. International Assets Investment Management LLC lifted its holdings in shares of Eli Lilly and Company by 61,268.8% during the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 102,752.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock valued at $1,992,374,000 after purchasing an additional 5,440,731 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Eli Lilly and Company by 44.1% during the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after purchasing an additional 3,691,436 shares in the last quarter. Finally, Imprint Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 53,716.8% during the 2nd quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock valued at $175,120,000 after purchasing an additional 1,747,946 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 34,538 shares of Eli Lilly and Company stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $631.81, for a total transaction of $21,821,453.78. Following the completion of the transaction, the insider now directly owns 99,719,884 shares of the company’s stock, valued at $63,004,019,910.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 195,055 shares of company stock valued at $125,254,657. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Thursday, February 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.13. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.71%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 77.93%.

Eli Lilly and Company Company Profile

(Get Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

Recommended Stories

Earnings History and Estimates for Eli Lilly and Company (NYSE:LLY)

Receive News & Ratings for Eli Lilly and Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eli Lilly and Company and related companies with MarketBeat.com's FREE daily email newsletter.