Eli Lilly and Company (NYSE:LLY) Declares Quarterly Dividend of $1.50

Eli Lilly and Company (NYSE:LLY) announced a quarterly dividend on Monday, June 23rd, RTT News reports. Stockholders of record on Friday, August 15th will be paid a dividend of 1.50 per share on Wednesday, September 10th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th.

Eli Lilly and Company has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eli Lilly and Company to earn $31.12 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 19.3%.

Eli Lilly and Company Stock Up 0.7%

LLY stock opened at $639.50 on Wednesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The company has a market capitalization of $605.26 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 0.89 and a beta of 0.44. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $972.53. The stock has a fifty day moving average of $769.64 and a 200-day moving average of $797.19.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.92 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on LLY. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. UBS Group dropped their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating for the company in a research report on Friday, August 8th. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Leerink Partnrs downgraded Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $977.65.

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.