Zacks: Brokerages Expect Eli Lilly and Company (LLY) Will Post Quarterly Sales of $5.51 Billion
Analysts forecast that Eli Lilly and Company (NYSE:LLY) will post sales of $5.51 billion for the current quarter, according to Zacks. Five analysts have issued estimates for Eli Lilly and’s earnings, with the lowest sales estimate coming in at $5.48 billion and the highest estimate coming in at $5.57 billion. Eli Lilly and posted sales of $5.19 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, October 24th.
On average, analysts expect that Eli Lilly and will report full-year sales of $5.51 billion for the current year, with estimates ranging from $22.30 billion to $22.54 billion. For the next fiscal year, analysts expect that the business will post sales of $22.81 billion per share, with estimates ranging from $22.16 billion to $23.26 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Eli Lilly and.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.06. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year.
A number of analysts have weighed in on LLY shares. BMO Capital Markets set a $73.00 target price on shares of Eli Lilly and and gave the stock a “sell” rating in a research note on Monday, October 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $105.00 target price on shares of Eli Lilly and in a research note on Friday, October 13th. Barclays PLC boosted their target price on shares of Eli Lilly and from $90.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. TheStreet raised shares of Eli Lilly and from a “c+” rating to a “b+” rating in a research note on Tuesday, July 25th. Finally, Leerink Swann cut shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $93.00 to $90.00 in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Eli Lilly and presently has an average rating of “Hold” and a consensus price target of $88.97.
Eli Lilly and (NYSE LLY) opened at 87.23 on Monday. Eli Lilly and has a 12-month low of $64.18 and a 12-month high of $89.09. The firm has a market cap of $92.03 billion, a P/E ratio of 37.75 and a beta of 0.34. The firm’s 50-day moving average price is $84.38 and its 200 day moving average price is $82.29.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.08 annualized dividend and a yield of 2.38%. Eli Lilly and’s payout ratio is 90.04%.
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In related news, major shareholder Lilly Endowment Inc sold 205,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $86.81, for a total value of $17,796,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 990,000 shares of company stock worth $82,949,650. 0.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in LLY. Waldron LP lifted its holdings in Eli Lilly and by 46.7% in the first quarter. Waldron LP now owns 4,948 shares of the company’s stock valued at $415,000 after buying an additional 1,574 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Eli Lilly and by 14.5% during the first quarter. LS Investment Advisors LLC now owns 34,621 shares of the company’s stock valued at $2,912,000 after purchasing an additional 4,374 shares during the period. American Assets Investment Management LLC acquired a new position in shares of Eli Lilly and during the first quarter valued at about $841,000. Crawford Investment Counsel Inc. raised its holdings in shares of Eli Lilly and by 1.1% during the first quarter. Crawford Investment Counsel Inc. now owns 13,750 shares of the company’s stock valued at $1,157,000 after purchasing an additional 156 shares during the period. Finally, Carnick & Kubik Group LLC raised its holdings in shares of Eli Lilly and by 154.1% during the first quarter. Carnick & Kubik Group LLC now owns 22,264 shares of the company’s stock valued at $1,873,000 after purchasing an additional 13,502 shares during the period. Institutional investors and hedge funds own 75.53% of the company’s stock.
About Eli Lilly and
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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