What is Leerink Partnrs' Forecast for ELAN FY2024 Earnings?

Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) - Research analysts at Leerink Partnrs issued their FY2024 earnings per share estimates for Elanco Animal Health in a report issued on Monday, December 2nd. Leerink Partnrs analyst D. Clark anticipates that the company will post earnings per share of $0.93 for the year. Leerink Partnrs has a "Hold" rating on the stock. The consensus estimate for Elanco Animal Health's current full-year earnings is $0.91 per share. Leerink Partnrs also issued estimates for Elanco Animal Health's Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.16 EPS, FY2025 earnings at $0.89 EPS, FY2026 earnings at $0.99 EPS, FY2027 earnings at $1.19 EPS and FY2028 earnings at $1.42 EPS.

A number of other equities research analysts have also recently issued reports on ELAN. Barclays boosted their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Leerink Partners began coverage on Elanco Animal Health in a report on Monday. They set a "market perform" rating and a $14.00 price objective for the company. Morgan Stanley cut Elanco Animal Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.75.

Elanco Animal Health Stock Performance

Elanco Animal Health stock traded down $0.23 during midday trading on Wednesday, reaching $12.25. 5,496,873 shares of the company's stock were exchanged, compared to its average volume of 4,766,547. Elanco Animal Health has a 52 week low of $11.40 and a 52 week high of $18.80. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 1.41 and a beta of 1.41. The stock's 50-day simple moving average is $13.52 and its 200 day simple moving average is $14.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the company posted $0.18 earnings per share. Elanco Animal Health's quarterly revenue was down 3.6% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ELAN. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company's stock worth $26,000 after buying an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Elanco Animal Health during the third quarter worth $29,000. ORG Partners LLC acquired a new position in shares of Elanco Animal Health during the second quarter worth $31,000. nVerses Capital LLC acquired a new position in shares of Elanco Animal Health during the second quarter worth $32,000. Finally, AM Squared Ltd acquired a new position in shares of Elanco Animal Health during the third quarter worth $34,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.