Eli Lilly and Company to Issue Quarterly Dividend of $1.30 (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) announced a quarterly dividend on Monday, May 6th, RTT News reports. Investors 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 dividend 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 every year for the last 10 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 Performance

Shares of LLY opened at $777.77 on Wednesday. The company has a market cap of $739.20 billion, a price-to-earnings ratio of 114.55, a P/E/G ratio of 1.45 and a beta of 0.37. The business’s fifty day simple moving average is $761.22 and its two-hundred day simple moving average is $674.88. Eli Lilly and Company has a 12 month low of $419.80 and a 12 month high of $800.78. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective on the stock. in a report on Wednesday, February 21st. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $757.95.

Eli Lilly and Company Company Profile

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.