Eli Lilly and Company (NYSE:LLY) Posts Quarterly Earnings Results

Eli Lilly and Company (NYSE:LLY) issued its earnings results 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 return on equity of 71.08% and a net margin of 20.48%.

Eli Lilly and Company Stock Performance

LLY stock traded up $14.78 during midday trading on Friday, reaching $885.15. The company had a trading volume of 2,330,456 shares, compared to its average volume of 3,926,420. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a 50 day moving average price of $788.21 and a 200 day moving average price of $843.47. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm has a market capitalization of $840.29 billion, a PE ratio of 95.63, a P/E/G ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.68%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LLY shares. Wells Fargo & Company reduced their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Finally, Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target 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.