Elanco Animal Health (NYSE:ELAN) Releases Earnings Results, Beats Expectations By $0.07 EPS
Elanco Animal Health (NYSE:ELAN) announced its earnings results on Thursday. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07, MarketWatch Earnings reports. Elanco Animal Health had a negative net margin of 3.63% and a positive return on equity of 4.83%. The firm had revenue of $586.30 million for the quarter, compared to analysts’ expectations of $555.84 million. Elanco Animal Health updated its Q3 2020
Pre-Market guidance to EPS.
NYSE:ELAN traded up $1.18 during mid-day trading on Friday, reaching $23.63. The company’s stock had a trading volume of 6,919,259 shares, compared to its average volume of 4,965,267. Elanco Animal Health has a 12-month low of $15.17 and a 12-month high of $33.92. The firm’s fifty day moving average price is $22.20 and its two-hundred day moving average price is $24.29. 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 has a market cap of $9.43 billion, a P/E ratio of -94.52, a PEG ratio of 3.53 and a beta of 0.87.
A number of brokerages have recently commented on ELAN. Bank of America boosted their target price on shares of Elanco Animal Health from $26.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 20th. Citigroup dropped their target price on shares of Elanco Animal Health from $35.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Cleveland Research cut shares of Elanco Animal Health from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Monday, July 27th. Barclays restated a “buy” rating and set a $25.00 target price on shares of Elanco Animal Health in a report on Wednesday, May 13th. Finally, Zacks Investment Research raised Elanco Animal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $26.50.
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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