Eli Lilly and Company (NYSE:LLY) Issues Quarterly Earnings Results

Eli Lilly and Company (NYSE:LLY) posted its quarterly earnings data on Thursday. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13), Zacks reports. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%.

Eli Lilly and Company Stock Up 1.7 %

Shares of LLY stock traded up $14.78 during trading hours on Friday, hitting $885.15. 2,330,456 shares of the company were exchanged, compared to its average volume of 3,926,420. The company has a market capitalization of $840.29 billion, a PE ratio of 95.63, a PEG ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The business has a 50 day moving average of $788.21 and a two-hundred day moving average of $843.47. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.68%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.