Eli Lilly & Co. (LLY) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS
Eli Lilly & Co. (NYSE:LLY) issued its quarterly earnings data on Wednesday. The company reported $1.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.04 by $0.07, Analyst Ratings Network reports. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.76 billion.
Shares of Eli Lilly & Co. (NYSE:LLY) opened at 50.15 on Wednesday. Eli Lilly & Co. has a 52-week low of $44.68 and a 52-week high of $58.40. The stock’s 50-day moving average is $52.91 and its 200-day moving average is $53.74. The company has a market cap of $54.172 billion and a price-to-earnings ratio of 11.26.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Wednesday, November 13th.
A number of research firms have recently commented on LLY. Analysts at Jefferies Group downgraded shares of Eli Lilly & Co. from a “hold” rating to an “underperform” rating in a research note to investors on Friday, October 11th. They now have a $40.00 price target on the stock, down previously from $49.00. On the ratings front, analysts at Edward Jones upgraded shares of Eli Lilly & Co. from a “sell” rating to a “hold” rating in a research note to investors on Thursday, October 10th. Finally, analysts at Credit Suisse initiated coverage on shares of Eli Lilly & Co. in a research note to investors on Tuesday, October 8th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.53.
Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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