Zacks Research Has Negative Outlook for LLY FY2024 Earnings

Eli Lilly and Company (NYSE:LLY) – Stock analysts at Zacks Research cut their FY2024 EPS estimates for Eli Lilly and Company in a report released on Wednesday, January 22nd. Zacks Research analyst K. Shah now forecasts that the company will post earnings per share of $12.72 for the year, down from their previous estimate of $13.12. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $12.98 per share. Zacks Research also issued estimates for Eli Lilly and Company’s Q4 2024 earnings at $5.04 EPS, Q1 2025 earnings at $4.49 EPS, Q1 2026 earnings at $6.02 EPS, Q2 2026 earnings at $6.86 EPS and Q3 2026 earnings at $7.90 EPS.

A number of other research firms have also recently issued reports on LLY. Citigroup boosted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Price Performance

LLY stock opened at $784.78 on Friday. Eli Lilly and Company has a 52 week low of $624.68 and a 52 week high of $972.53. The firm has a market capitalization of $745.01 billion, a P/E ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The company has a fifty day simple moving average of $776.69 and a two-hundred day simple moving average of $849.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Beck Bode LLC purchased a new position in Eli Lilly and Company during the 2nd quarter valued at about $15,036,000. AQR Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 17.3% in the second quarter. AQR Capital Management LLC now owns 474,552 shares of the company’s stock valued at $429,650,000 after purchasing an additional 70,122 shares during the period. APG Asset Management US Inc. increased its stake in Eli Lilly and Company by 0.8% during the 2nd quarter. APG Asset Management US Inc. now owns 204,328 shares of the company’s stock worth $186,831,000 after buying an additional 1,586 shares during the period. APG Asset Management N.V. lifted its holdings in Eli Lilly and Company by 6.7% during the 2nd quarter. APG Asset Management N.V. now owns 703,220 shares of the company’s stock worth $594,058,000 after buying an additional 44,133 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Eli Lilly and Company by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock valued at $2,741,832,000 after buying an additional 22,392 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.