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

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 analysts’ consensus estimates of $5.45 by ($0.13), Zacks reports. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $878.09 on Friday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The stock has a market cap of $833.59 billion, a P/E ratio of 74.99, a PEG ratio of 1.87 and a beta of 0.42. The business’s 50-day moving average price is $789.87 and its 200-day moving average price is $843.55. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.68%. 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. Eli Lilly and Company’s payout ratio is currently 44.41%.

Eli Lilly and Company declared that its board has authorized a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Citigroup dropped their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Finally, Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.