Eli Lilly and Company (LLY) Issues Earnings Results, Beats Estimates By $0.02 EPS
Eli Lilly and Company (NYSE:LLY) issued its earnings results on Tuesday. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02, Bloomberg Earnings reports. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.52 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. Eli Lilly and updated its FY17 guidance to $4.15-4.25 EPS.
Eli Lilly and (LLY) opened at 87.18 on Tuesday. The firm has a market cap of $91.97 billion, a P/E ratio of 37.72 and a beta of 0.34. Eli Lilly and has a 1-year low of $64.18 and a 1-year high of $89.09. The company has a 50-day moving average price of $84.58 and a 200-day moving average price of $82.25.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, November 14th. Eli Lilly and’s dividend payout ratio (DPR) is presently 90.04%.
In other news, major shareholder Lilly Endowment Inc sold 205,000 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $86.81, for a total transaction of $17,796,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 990,000 shares of company stock valued at $82,949,650 in the last quarter. 0.20% of the stock is owned by corporate insiders.
LLY has been the subject of a number of research analyst reports. Leerink Swann lifted their price objective on shares of Eli Lilly and from $92.00 to $93.00 and gave the stock a “market perform” rating in a research report on Monday. BMO Capital Markets set a $73.00 price objective on shares of Eli Lilly and and gave the stock a “sell” rating in a research report on Monday, October 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $105.00 price objective on shares of Eli Lilly and in a research report on Friday, October 13th. Barclays PLC lifted their price objective on shares of Eli Lilly and from $90.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Finally, Credit Suisse Group cut shares of Eli Lilly and from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $84.23 to $88.00 in a research report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Eli Lilly and has an average rating of “Hold” and a consensus price target of $89.12.
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Eli Lilly and Company Profile
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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