Equities Analysts Issue Forecasts for Eli Lilly and Company’s Q3 2024 Earnings (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) – Equities research analysts at Leerink Partnrs upped their Q3 2024 earnings per share estimates for Eli Lilly and Company in a report released on Wednesday, May 1st. Leerink Partnrs analyst D. Risinger now anticipates that the company will post earnings per share of $3.75 for the quarter, up from their prior estimate of $3.35. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.83 per share. Leerink Partnrs also issued estimates for Eli Lilly and Company’s Q4 2024 earnings at $4.82 EPS, FY2024 earnings at $13.56 EPS, FY2025 earnings at $20.03 EPS, FY2026 earnings at $25.61 EPS, FY2027 earnings at $32.51 EPS and FY2028 earnings at $39.87 EPS.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS.

Several other brokerages have also recently weighed in on LLY. Bank of America boosted their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday, April 30th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

Eli Lilly and Company Trading Down 2.8 %

LLY opened at $734.97 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 0.73. Eli Lilly and Company has a fifty-two week low of $419.80 and a fifty-two week high of $800.78. The company’s 50 day moving average price is $761.06 and its two-hundred day moving average price is $671.38. The firm has a market capitalization of $698.52 billion, a price-to-earnings ratio of 108.24, a PEG ratio of 1.50 and a beta of 0.37.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors have recently modified their holdings of the stock. Lipe & Dalton bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company in the third quarter worth about $27,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. raised its position in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the period. Finally, Legacy Financial Group LLC purchased a new position in Eli Lilly and Company during the third quarter valued at $35,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.