Eli Lilly and Company (LLY) Updates FY17 Earnings Guidance
Eli Lilly and Company (NYSE:LLY) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.15-4.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.16. The company issued revenue guidance of $22.4-22.7 billion, compared to the consensus revenue estimate of $22.51 billion.
A number of brokerages have recently issued reports on LLY. Leerink Swann boosted their target price on shares of Eli Lilly and from $92.00 to $93.00 and gave the company a market perform rating in a research report on Monday. BMO Capital Markets set a $73.00 target price on shares of Eli Lilly and and gave the company a sell rating in a research report on Monday, October 16th. Piper Jaffray Companies reissued a buy rating and issued a $105.00 target price on shares of Eli Lilly and in a research report 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 company 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 boosted their target price for the company from $84.23 to $88.00 in a research report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $89.12.
Eli Lilly and Company (NYSE:LLY) opened at 87.18 on Tuesday. Eli Lilly and Company has a 12-month low of $64.18 and a 12-month high of $89.09. The company has a market cap of $91.97 billion, a PE ratio of 37.72 and a beta of 0.34. The stock has a 50 day moving average of $84.58 and a 200-day moving average of $82.25.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.52 billion. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. On average, equities research analysts anticipate that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.39%. Eli Lilly and’s dividend payout ratio (DPR) is presently 90.04%.
In other news, major shareholder Lilly Endowment Inc sold 180,000 shares of Eli Lilly and stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $81.06, for a total transaction of $14,590,800.00. Following the completion of the sale, the insider now owns 123,865,804 shares in the company, valued at approximately $10,040,562,072.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 990,000 shares of company stock valued at $82,949,650. Corporate insiders own 0.20% 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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