Eli Lilly and Company Plans Quarterly Dividend of $0.52 (LLY)
Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, October 16th, RTT News reports. Shareholders of record on Wednesday, November 15th will be given a dividend of 0.52 per share on Friday, December 8th. This represents a $2.08 annualized dividend and a yield of 2.42%.
Eli Lilly and has raised its dividend by an average of 1.3% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Eli Lilly and has a dividend payout ratio of 50.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly and to earn $4.58 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 45.4%.
Eli Lilly and (NYSE LLY) opened at 85.95 on Tuesday. The firm has a 50-day moving average price of $83.56 and a 200 day moving average price of $82.19. The stock has a market cap of $90.68 billion, a price-to-earnings ratio of 37.19 and a beta of 0.34. Eli Lilly and has a 1-year low of $64.18 and a 1-year high of $89.09.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.06. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. Eli Lilly and’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, equities research analysts anticipate that Eli Lilly and will post $4.16 EPS for the current fiscal year.
A number of research analysts have recently commented on the company. BMO Capital Markets set a $73.00 price objective on Eli Lilly and and gave the company a “sell” rating in a report on Monday. Piper Jaffray Companies reiterated a “buy” rating and issued a $105.00 price objective on shares of Eli Lilly and in a report on Friday. Barclays PLC increased their price objective on Eli Lilly and from $90.00 to $98.00 and gave the company an “overweight” rating in a report on Friday. Credit Suisse Group downgraded Eli Lilly and from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $84.23 to $88.00 in a report on Tuesday, October 10th. Finally, Morgan Stanley set a $86.00 price target on Eli Lilly and and gave the stock a “hold” rating in a research note on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $88.97.
In other news, major shareholder Lilly Endowment Inc sold 205,000 shares of Eli Lilly and stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $86.81, for a total value of $17,796,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 990,000 shares of company stock valued at $82,949,650 in the last three months. 0.20% of the stock is currently owned by company insiders.
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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