Leerink Partnrs Has Bearish Forecast for LLY FY2024 Earnings

Eli Lilly and Company (NYSE:LLY) – Research analysts at Leerink Partnrs cut their FY2024 earnings per share estimates for Eli Lilly and Company in a research note issued on Thursday, October 31st. Leerink Partnrs analyst D. Risinger now anticipates that the company will post earnings per share of $13.20 for the year, down from their previous estimate of $13.39. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.79 per share. Leerink Partnrs also issued estimates for Eli Lilly and Company’s Q4 2024 earnings at $5.52 EPS, FY2025 earnings at $24.25 EPS, FY2026 earnings at $31.59 EPS, FY2027 earnings at $39.59 EPS and FY2028 earnings at $46.78 EPS.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.00.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $818.93 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The business’s 50 day moving average price is $911.04 and its 200-day moving average price is $865.33. The firm has a market capitalization of $778.34 billion, a PE ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amarillo National Bank raised its holdings in shares of Eli Lilly and Company by 268.6% in the 1st quarter. Amarillo National Bank now owns 5,459 shares of the company’s stock valued at $4,247,000 after buying an additional 3,978 shares during the period. Tempus Wealth Planning LLC raised its holdings in shares of Eli Lilly and Company by 2.6% in the 1st quarter. Tempus Wealth Planning LLC now owns 2,288 shares of the company’s stock valued at $1,780,000 after buying an additional 57 shares during the period. Powers Advisory Group LLC raised its holdings in shares of Eli Lilly and Company by 2.6% in the 1st quarter. Powers Advisory Group LLC now owns 2,288 shares of the company’s stock valued at $1,780,000 after buying an additional 58 shares during the period. Park Edge Advisors LLC raised its holdings in shares of Eli Lilly and Company by 70.6% in the 1st quarter. Park Edge Advisors LLC now owns 2,563 shares of the company’s stock valued at $1,994,000 after buying an additional 1,061 shares during the period. Finally, New Century Financial Group LLC raised its holdings in shares of Eli Lilly and Company by 64.7% in the 1st quarter. New Century Financial Group LLC now owns 1,986 shares of the company’s stock valued at $1,545,000 after buying an additional 780 shares during the period. Hedge funds and other institutional investors 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.