What is Zacks Research's Forecast for LLY FY2024 Earnings?

Eli Lilly and Company (NYSE:LLY - Free Report) - Research analysts at Zacks Research dropped their FY2024 earnings estimates for shares of Eli Lilly and Company in a research report issued on Wednesday, January 22nd. Zacks Research analyst K. Shah now anticipates that the company will earn $12.72 per share for the year, down from their previous estimate of $13.12. The consensus estimate for Eli Lilly and Company's current full-year earnings is $12.98 per share. Zacks Research also issued estimates for Eli Lilly and Company's Q4 2024 earnings at $5.04 EPS, Q1 2025 earnings at $4.49 EPS, Q1 2026 earnings at $6.02 EPS, Q2 2026 earnings at $6.86 EPS and Q3 2026 earnings at $7.90 EPS.

LLY has been the topic of several other reports. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Wolfe Research started 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 target on the stock. Finally, Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $18.18 during trading hours on Friday, hitting $784.78. The stock had a trading volume of 4,167,792 shares, compared to its average volume of 4,222,558. The firm has a market capitalization of $745.01 billion, a PE ratio of 84.84, a PEG ratio of 1.59 and a beta of 0.41. 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 has a 12 month low of $624.68 and a 12 month high of $972.53. The stock has a fifty day moving average price of $775.91 and a 200 day moving average price of $850.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts' expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tempus Wealth Planning LLC raised its position in Eli Lilly and Company by 14.9% during the fourth quarter. Tempus Wealth Planning LLC now owns 2,750 shares of the company's stock valued at $2,123,000 after purchasing an additional 356 shares during the period. First Dallas Securities Inc. raised its holdings in Eli Lilly and Company by 2.6% during the 4th quarter. First Dallas Securities Inc. now owns 4,012 shares of the company's stock valued at $3,097,000 after buying an additional 100 shares during the period. Calamos Wealth Management LLC lifted its position in Eli Lilly and Company by 1.1% in the fourth quarter. Calamos Wealth Management LLC now owns 28,284 shares of the company's stock worth $21,835,000 after buying an additional 319 shares during the last quarter. Calamos Advisors LLC boosted its stake in Eli Lilly and Company by 1.2% during the fourth quarter. Calamos Advisors LLC now owns 291,976 shares of the company's stock worth $225,405,000 after buying an additional 3,433 shares during the period. Finally, Patron Partners LLC increased its position in Eli Lilly and Company by 0.8% during the fourth quarter. Patron Partners LLC now owns 3,561 shares of the company's stock valued at $2,749,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. This is an increase 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 0.76%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company's payout ratio is currently 64.86%.

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.