Eli Lilly and Receives Neutral Rating from Zacks (LLY)
Eli Lilly and (NYSE:LLY)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday. They currently have a $68.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 6.62% from the company’s current price.
Zacks’ analyst wrote, “Lilly’s second quarter 2014 EPS of $0.68 were a couple of cents above the Zacks Consensus Estimate but 41% below the year-ago EPS. Revenues slipped 17% to $4.935 billion, missing the Zacks Consensus Estimate of $4.831 billion. Lilly expects to earn $2.72 – $2.80 per share in 2014. The biggest near-term challenge for Lilly will be to replace the revenues lost due to the Zyprexa, Cymbalta and Evista genericization. On the flip side, the Animal Health business and the diabetes franchise should provide some downside support. We are also pleased to see Lilly pursuing small acquisitions and in-licensing deals to boost its pipeline. We remain Neutral on the stock.”
A number of other analysts have also recently weighed in on LLY. Analysts at Jefferies Group reiterated a “hold” rating on shares of Eli Lilly and in a research note on Monday, July 14th. They now have a $65.00 price target on the stock, up previously from $60.00. Separately, analysts at Barclays upgraded shares of Eli Lilly and from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 2nd. They now have a $63.00 price target on the stock, up previously from $51.00. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Eli Lilly and in a research note on Monday, June 2nd. They now have a $48.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Eli Lilly and has a consensus rating of “Hold” and a consensus price target of $62.31.
Shares of Eli Lilly and (NYSE:LLY) traded down 0.92% during mid-day trading on Friday, hitting $63.78. The stock had a trading volume of 2,987,443 shares. Eli Lilly and has a one year low of $47.53 and a one year high of $65.70. The stock has a 50-day moving average of $61.91 and a 200-day moving average of $58.59. The company has a market cap of $68.417 billion and a price-to-earnings ratio of 17.99. Eli Lilly and also saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 19,160,146 shares, a decrease of 11.4% from the June 30th total of 21,636,995 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 3,091,827 shares, the days-to-cover ratio is currently 6.2 days.
Eli Lilly and (NYSE:LLY) last announced its earnings results on Thursday, July 24th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.03. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter last year, the company posted $1.16 earnings per share. Eli Lilly and’s revenue was down 16.8% compared to the same quarter last year. On average, analysts predict that Eli Lilly and will post $2.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Wednesday, August 13th.
Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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