FY2024 Earnings Forecast for LLY Issued By Zacks Research

Eli Lilly and Company (NYSE:LLY) – Equities researchers at Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of Eli Lilly and Company in a research note issued to investors on Wednesday, January 22nd. Zacks Research analyst K. Shah now forecasts that the company will post earnings of $12.72 per share for the year, down from their previous forecast 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.

Several other equities analysts have also issued reports on LLY. Barclays decreased their target price 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, October 31st. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $784.78 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a 50 day moving average price of $775.91 and a 200 day moving average price of $850.34. Eli Lilly and Company has a fifty-two week low of $624.68 and a fifty-two week high of $972.53. The stock has a market capitalization of $745.01 billion, a P/E ratio of 84.84, a PEG ratio of 1.59 and a beta of 0.41.

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

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently modified their holdings of the company. CWA Asset Management Group LLC raised its position in Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares during the period. M&T Bank Corp increased its holdings in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Everence Capital Management Inc. lifted its position in shares of Eli Lilly and Company by 3.2% in the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after buying an additional 690 shares during the last quarter. Cooper Financial Group boosted its stake in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the period. Finally, Jacobs & Co. CA increased its position in Eli Lilly and Company by 35.2% in the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after buying an additional 7,646 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.