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

Eli Lilly and Company (NYSE:LLY) announced its quarterly earnings data on Thursday. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13), Zacks reports. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $28.38 during mid-day trading on Thursday, hitting $870.56. The company’s stock had a trading volume of 7,091,003 shares, compared to its average volume of 3,937,640. Eli Lilly and Company has a twelve month low of $707.02 and a twelve month high of $972.53. The stock’s fifty day moving average price is $786.57 and its two-hundred day moving average price is $843.28. The stock has a market capitalization of $826.44 billion, a P/E ratio of 94.11, a P/E/G ratio of 1.72 and a beta of 0.42. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued 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 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. 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 target price for the company. StockNews.com downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Barclays dropped their price target on 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. Finally, Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.