Eli Lilly and Company (NYSE:LLY) – Investment analysts at SunTrust Banks reduced their Q2 2017 earnings estimates for Eli Lilly and in a research report issued to clients and investors on Monday. SunTrust Banks analyst J. Boris now expects that the company will post earnings per share of $1.06 for the quarter, down from their prior estimate of $1.07. SunTrust Banks also issued estimates for Eli Lilly and’s FY2018 earnings at $4.42 EPS.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Eli Lilly and had a net margin of 10.13% and a return on equity of 26.64%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share.
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LLY has been the subject of several other reports. BidaskClub raised Eli Lilly and from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Barclays PLC lifted their target price on Eli Lilly and from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $96.00 target price (up from $93.00) on shares of Eli Lilly and in a research report on Thursday, July 13th. Citigroup Inc. lifted their target price on Eli Lilly and from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Finally, Morgan Stanley downgraded Eli Lilly and from an “overweight” rating to an “equal weight” rating and set a $82.00 target price for the company. in a research report on Monday, April 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $87.75.
Eli Lilly and (NYSE:LLY) opened at 83.64 on Tuesday. The stock has a 50 day moving average of $80.49 and a 200-day moving average of $79.95. The company has a market capitalization of $88.35 billion, a PE ratio of 40.44 and a beta of 0.35. Eli Lilly and has a 12-month low of $64.18 and a 12-month high of $86.72.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and by 3.3% in the first quarter. Vanguard Group Inc. now owns 68,597,006 shares of the company’s stock worth $5,769,694,000 after buying an additional 2,181,701 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Eli Lilly and by 2,628.5% in the first quarter. BlackRock Inc. now owns 62,260,488 shares of the company’s stock worth $5,236,731,000 after buying an additional 59,978,664 shares in the last quarter. State Street Corp boosted its stake in shares of Eli Lilly and by 1.6% in the first quarter. State Street Corp now owns 42,363,935 shares of the company’s stock worth $3,563,230,000 after buying an additional 651,424 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Eli Lilly and by 8.4% in the first quarter. Geode Capital Management LLC now owns 9,103,975 shares of the company’s stock worth $764,597,000 after buying an additional 708,597 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Eli Lilly and during the fourth quarter worth $658,856,000. Institutional investors own 75.47% of the company’s stock.
In other Eli Lilly and news, SVP Enrique A. Conterno sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $82.76, for a total value of $2,069,000.00. Following the completion of the sale, the senior vice president now owns 114,217 shares in the company, valued at $9,452,598.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $84.43, for a total value of $17,730,300.00. Following the completion of the sale, the insider now owns 124,265,804 shares of the company’s stock, valued at approximately $10,491,761,831.72. The disclosure for this sale can be found here. Insiders sold 474,733 shares of company stock valued at $39,634,487 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, August 11th. Eli Lilly and’s dividend payout ratio (DPR) is 100.48%.
About Eli Lilly and
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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