Leerink Partnrs Has Bearish Forecast for LLY FY2024 Earnings

Eli Lilly and Company (NYSE:LLY) – Equities research analysts at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for shares of Eli Lilly and Company in a research report issued on Thursday, October 31st. Leerink Partnrs analyst D. Risinger now expects that the company will earn $13.20 per share for the year, down from their prior 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.

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

A number of other brokerages also recently weighed in on LLY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,025.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Citigroup raised 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 research report on Friday, October 25th. Berenberg Bank increased their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Barclays decreased their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,009.00.

Eli Lilly and Company Price Performance

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. XML Financial LLC raised its position in Eli Lilly and Company by 1.0% during the third quarter. XML Financial LLC now owns 1,775 shares of the company’s stock valued at $1,572,000 after acquiring an additional 17 shares in the last quarter. Sustainable Insight Capital Management LLC raised its position in Eli Lilly and Company by 5.9% during the third quarter. Sustainable Insight Capital Management LLC now owns 15,032 shares of the company’s stock valued at $13,317,000 after acquiring an additional 844 shares in the last quarter. GSG Advisors LLC raised its position in Eli Lilly and Company by 24.1% during the third quarter. GSG Advisors LLC now owns 412 shares of the company’s stock valued at $364,000 after acquiring an additional 80 shares in the last quarter. Sheets Smith Wealth Management raised its position in Eli Lilly and Company by 48.6% during the third quarter. Sheets Smith Wealth Management now owns 13,065 shares of the company’s stock valued at $11,574,000 after acquiring an additional 4,271 shares in the last quarter. Finally, First Personal Financial Services raised its position in Eli Lilly and Company by 24.9% during the third quarter. First Personal Financial Services now owns 301 shares of the company’s stock valued at $267,000 after acquiring an additional 60 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Dividend Announcement

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

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.