Analysts expect Elanco Animal Health (NASDAQ:ELAN) to announce $785.93 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Elanco Animal Health’s earnings. The lowest sales estimate is $780.55 million and the highest is $791.30 million. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Elanco Animal Health will report full year sales of $3.12 billion for the current year, with estimates ranging from $3.11 billion to $3.13 billion. For the next year, analysts expect that the firm will report sales of $3.21 billion, with estimates ranging from $3.16 billion to $3.25 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Elanco Animal Health.
Elanco Animal Health (NASDAQ:ELAN) last released its earnings results on Thursday, May 9th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $731.10 million during the quarter, compared to analysts’ expectations of $743.40 million. During the same quarter in the previous year, the business earned $0.33 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis.
A number of equities analysts have recently issued reports on ELAN shares. Zacks Investment Research downgraded Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets increased their price target on Elanco Animal Health from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. UBS Group started coverage on Elanco Animal Health in a research report on Wednesday, March 20th. They set a “sell” rating and a $28.00 price target on the stock. Bank of America raised Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $30.95 price target on the stock in a research report on Monday, March 18th. Finally, Morgan Stanley started coverage on Elanco Animal Health in a research report on Wednesday, March 13th. They set an “equal weight” rating and a $34.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Elanco Animal Health has a consensus rating of “Hold” and a consensus price target of $33.47.
In related news, Director John P. Bilbrey acquired 7,750 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $32.39 per share, with a total value of $251,022.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director R David Hoover acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average cost of $31.43 per share, for a total transaction of $628,600.00. The disclosure for this purchase can be found here.
A number of hedge funds have recently modified their holdings of ELAN. Primecap Management Co. CA boosted its position in Elanco Animal Health by 516.8% during the first quarter. Primecap Management Co. CA now owns 30,607,906 shares of the company’s stock valued at $981,596,000 after purchasing an additional 25,645,707 shares in the last quarter. Wellington Management Group LLP boosted its position in Elanco Animal Health by 516.8% during the first quarter. Wellington Management Group LLP now owns 24,304,234 shares of the company’s stock valued at $779,437,000 after purchasing an additional 20,363,544 shares in the last quarter. BlackRock Inc. boosted its position in Elanco Animal Health by 618.1% during the first quarter. BlackRock Inc. now owns 19,559,113 shares of the company’s stock valued at $627,262,000 after purchasing an additional 16,835,410 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Elanco Animal Health during the first quarter valued at about $341,261,000. Finally, OppenheimerFunds Inc. bought a new stake in Elanco Animal Health during the first quarter valued at about $310,058,000.
ELAN stock traded up $0.05 during midday trading on Tuesday, reaching $33.05. The company’s stock had a trading volume of 60,541 shares, compared to its average volume of 7,753,080. Elanco Animal Health has a 1 year low of $28.00 and a 1 year high of $37.61.
About Elanco Animal Health
There is no company description available for Elanco Animal Health Inc
Recommended Story: What is the formula for calculating total return?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Elanco Animal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elanco Animal Health and related companies with MarketBeat.com's FREE daily email newsletter.