Eli Lilly and Company (NYSE:LLY) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Eli Lilly and Company (NYSE:LLY - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.45 by ($0.13), Zacks reports. Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%.

Eli Lilly and Company Stock Up 0.9 %

Eli Lilly and Company stock traded up $7.72 during mid-day trading on Friday, reaching $878.09. The stock had a trading volume of 4,421,566 shares, compared to its average volume of 4,056,943. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a 50-day moving average price of $789.87 and a two-hundred day moving average price of $843.31. The company has a market capitalization of $833.58 billion, a price-to-earnings ratio of 74.99, a PEG ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is currently 51.24%.

Eli Lilly and Company declared that its board has initiated a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on LLY. Bank of America reissued a "buy" rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price objective on the stock. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 target price for the company. Wells Fargo & Company cut their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Barclays reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $997.50.

About Eli Lilly and Company

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.