The FY2016 EPS Estimates for Eli Lilly and Co. (LLY) Cut by Leerink Swann

The FY2016 EPS Estimates for Eli Lilly and Co. (LLY) Cut by Leerink Swann

Eli Lilly and Co. (NYSE:LLY) – Stock analysts at Leerink Swann lowered their FY2016 earnings estimates for shares of Eli Lilly and in a report issued on Wednesday. Leerink Swann analyst S. Fernandez now anticipates that the firm will post earnings per share of $3.48 for the year, down from their prior forecast of $3.57. Leerink Swann currently has a “Outperform” rating and a $92.00 price target on the stock. Leerink Swann also issued estimates for Eli Lilly and’s Q4 2016 earnings at $0.92 EPS, FY2017 earnings at $3.99 EPS and FY2018 earnings at $4.17 EPS.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $384.00 price target on shares of Eli Lilly and in a research note on Saturday. Morgan Stanley set a $73.00 price target on shares of Eli Lilly and and gave the stock a “hold” rating in a research note on Thursday. Atlantic Securities downgraded shares of Eli Lilly and from an “overweight” rating to a “neutral” rating in a report on Friday. BMO Capital Markets downgraded shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $91.00 to $64.00 in a report on Wednesday, November 23rd. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Eli Lilly and in a report on Tuesday, November 8th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $108.34.

Eli Lilly and (NYSE:LLY) opened at 69.12 on Monday. Eli Lilly and has a one year low of $64.18 and a one year high of $88.16. The firm has a market cap of $73.11 billion, a price-to-earnings ratio of 30.07 and a beta of 0.28. The firm has a 50 day moving average of $76.69 and a 200-day moving average of $77.92.

Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. The company earned $5.19 billion during the quarter, compared to analyst estimates of $4.23 billion. Eli Lilly and had a net margin of 11.73% and a return on equity of 23.71%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.89 EPS.

Several hedge funds have recently bought and sold shares of LLY. Iowa State Bank purchased a new stake in Eli Lilly and during the second quarter valued at about $104,000. PineBridge Investments L.P. increased its stake in Eli Lilly and by 208.6% in the second quarter. PineBridge Investments L.P. now owns 1,361 shares of the company’s stock valued at $108,000 after buying an additional 920 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in Eli Lilly and by 22.3% in the third quarter. Tradewinds Capital Management LLC now owns 1,345 shares of the company’s stock valued at $108,000 after buying an additional 245 shares in the last quarter. Integrated Wealth Management increased its stake in Eli Lilly and by 3.7% in the third quarter. Integrated Wealth Management now owns 1,389 shares of the company’s stock valued at $112,000 after buying an additional 50 shares in the last quarter. Finally, Financial Architects Inc increased its stake in Eli Lilly and by 4.5% in the third quarter. Financial Architects Inc now owns 1,423 shares of the company’s stock valued at $114,000 after buying an additional 61 shares in the last quarter. 75.11% of the stock is owned by institutional investors and hedge funds.

In related news, insider Maria A. Crowe sold 2,248 shares of the company’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $81.37, for a total transaction of $182,919.76. Following the completion of the sale, the insider now directly owns 94,319 shares of the company’s stock, valued at approximately $7,674,737.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, November 10th. Eli Lilly and’s dividend payout ratio is currently 88.70%.

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