Q3 2017 Earnings Forecast for Eli Lilly and Company Issued By SunTrust Banks (LLY)
Eli Lilly and Company (NYSE:LLY) – Analysts at SunTrust Banks increased their Q3 2017 earnings estimates for Eli Lilly and in a research note issued on Tuesday. SunTrust Banks analyst J. Boris now anticipates that the company will post earnings per share of $1.03 for the quarter, up from their prior forecast of $1.02. SunTrust Banks also issued estimates for Eli Lilly and’s FY2017 earnings at $4.17 EPS and FY2018 earnings at $4.42 EPS.
Several other equities research analysts also recently commented on LLY. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $92.00 target price on shares of Eli Lilly and in a research note on Tuesday, May 16th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Eli Lilly and in a research note on Sunday, May 21st. Jefferies Group LLC reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Tuesday, May 30th. TheStreet downgraded shares of Eli Lilly and from a “b+” rating to a “c” rating in a research note on Wednesday, May 31st. Finally, BidaskClub raised shares of Eli Lilly and from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $88.07.
Eli Lilly and (NYSE:LLY) opened at 82.92 on Friday. The stock has a market capitalization of $87.48 billion, a PE ratio of 35.88 and a beta of 0.34. Eli Lilly and has a 52-week low of $64.18 and a 52-week high of $86.72. The firm’s 50-day moving average is $80.99 and its 200 day moving average is $82.04.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.06. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the company posted $0.86 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 15th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, August 11th. Eli Lilly and’s dividend payout ratio (DPR) is currently 90.04%.
In related news, insider Melissa S. Barnes sold 1,900 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.78, for a total value of $153,482.00. Following the completion of the transaction, the insider now owns 14,041 shares of the company’s stock, valued at $1,134,231.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $84.43, for a total transaction of $17,730,300.00. Following the completion of the transaction, the insider now directly 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. In the last ninety days, insiders sold 826,900 shares of company stock valued at $68,610,132. 0.20% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in LLY. Acrospire Investment Management LLC grew its position in Eli Lilly and by 16.7% in the second quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock valued at $115,000 after purchasing an additional 200 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in Eli Lilly and in the second quarter valued at $129,000. Heritage Trust Co bought a new position in Eli Lilly and in the first quarter valued at $135,000. Point72 Asia Hong Kong Ltd grew its position in Eli Lilly and by 237.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock valued at $148,000 after purchasing an additional 1,239 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in Eli Lilly and in the second quarter valued at $148,000. 75.77% of the stock is owned by institutional investors and hedge funds.
Eli Lilly and Company Profile
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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