Elanco Animal Health (NYSE:ELAN) Trading 6.1% Higher Following Earnings Beat
Shares of Elanco Animal Health (NYSE:ELAN) traded up 6.1% on Thursday following a stronger than expected earnings report. The company traded as high as $22.58 and last traded at $22.45, 14,117,294 shares traded hands during trading. An increase of 159% from the average session volume of 5,441,169 shares. The stock had previously closed at $21.15.
The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business had revenue of $586.30 million for the quarter, compared to the consensus estimate of $555.84 million. Elanco Animal Health had a positive return on equity of 4.83% and a negative net margin of 3.63%.
Several analysts recently commented on the company. Bank of America raised their price objective on Elanco Animal Health from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Zacks Investment Research raised Elanco Animal Health from a “sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Barclays reiterated a “buy” rating and set a $25.00 target price on shares of Elanco Animal Health in a report on Wednesday, May 13th. Cleveland Research cut Elanco Animal Health from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a report on Monday, July 27th. Finally, Citigroup lowered their target price on Elanco Animal Health from $35.00 to $27.00 and set a “buy” rating for the company in a report on Friday, May 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $26.50.
The company has a current ratio of 4.41, a quick ratio of 2.97 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $22.20 and its 200-day simple moving average is $24.29. The firm has a market capitalization of $9.43 billion, a P/E ratio of 29.93, a P/E/G ratio of 3.35 and a beta of 0.87.
Elanco Animal Health Company Profile (NYSE:ELAN)
Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.
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