Eli Lilly and Company (LLY) to Issue Quarterly Dividend of $1.30 on June 10th

Eli Lilly and Company (NYSE:LLY) announced a quarterly dividend on Monday, May 6th, RTT News reports. Shareholders of record on Thursday, May 16th will be paid a dividend of 1.30 per share on Monday, June 10th. This represents a $5.20 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, May 15th.

Eli Lilly and Company has raised its dividend payment by an average of 15.2% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Eli Lilly and Company has a dividend payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eli Lilly and Company to earn $18.86 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 27.6%.

Eli Lilly and Company Stock Up 1.4 %

Eli Lilly and Company stock opened at $777.77 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a 50-day simple moving average of $761.22 and a 200-day simple moving average of $674.88. The firm has a market capitalization of $739.20 billion, a P/E ratio of 114.55, a P/E/G ratio of 1.45 and a beta of 0.37. Eli Lilly and Company has a one year low of $419.80 and a one year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts expect that Eli Lilly and Company will post 13.82 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial increased their price objective on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Citigroup lifted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $757.95.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.