Elanco Animal Health (NYSE:ELAN) Updates Q4 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.13-$0.18 for the period, compared to the consensus earnings per share estimate of $0.16. The company issued revenue guidance of $1.00-$1.03 billion, compared to the consensus revenue estimate of $1.01 billion. Elanco Animal Health also updated its FY 2024 guidance to 0.890-0.950 EPS.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $13.30 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -5.04, a price-to-earnings-growth ratio of 1.31 and a beta of 1.41. Elanco Animal Health has a one year low of $10.19 and a one year high of $18.80. The company has a 50 day moving average price of $13.97 and a 200 day moving average price of $14.72.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Sell-side analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on ELAN shares. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Barclays decreased their price objective on shares of Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.00.

Insider Activity

In other news, CEO Jeffrey N. Simmons bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. This trade represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elanco Animal Health news, CEO Jeffrey N. Simmons bought 100,000 shares of Elanco Animal Health stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. This represents a 200.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Harrington purchased 3,500 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.57% of the company’s stock.

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.