Elanco Animal Health Incorporated (NYSE:ELAN) Expected to Post Q2 2024 Earnings of $0.24 Per Share

Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) - Equities research analysts at William Blair dropped their Q2 2024 earnings per share estimates for shares of Elanco Animal Health in a research note issued on Wednesday, May 8th. William Blair analyst B. Vazquez now anticipates that the company will post earnings of $0.24 per share for the quarter, down from their prior forecast of $0.26. The consensus estimate for Elanco Animal Health's current full-year earnings is $0.91 per share. William Blair also issued estimates for Elanco Animal Health's FY2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.20 EPS and FY2025 earnings at $1.06 EPS.

A number of other analysts have also commented on ELAN. Barclays boosted their target price on Elanco Animal Health from $19.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday. TheStreet raised Elanco Animal Health from a "d+" rating to a "c-" rating in a research report on Friday, February 23rd. The Goldman Sachs Group boosted their target price on Elanco Animal Health from $12.50 to $14.00 and gave the company a "sell" rating in a research report on Tuesday, February 27th. Finally, Morgan Stanley boosted their target price on Elanco Animal Health from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.29.

Elanco Animal Health Trading Down 1.2 %

Shares of NYSE:ELAN traded down $0.20 during midday trading on Friday, reaching $17.00. The company's stock had a trading volume of 3,689,936 shares, compared to its average volume of 4,575,444. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of -6.88, a PEG ratio of 1.42 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75. The firm has a 50 day moving average price of $15.00 and a two-hundred day moving average price of $14.06. Elanco Animal Health has a fifty-two week low of $7.88 and a fifty-two week high of $17.43.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS.

Insider Buying and Selling

In other Elanco Animal Health news, Director R David Hoover acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the transaction, the director now owns 185,000 shares of the company's stock, valued at approximately $2,985,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Elanco Animal Health during the fourth quarter valued at about $37,000. Tower Research Capital LLC TRC grew its stake in shares of Elanco Animal Health by 169.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company's stock valued at $93,000 after buying an additional 3,906 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Elanco Animal Health during the third quarter valued at about $95,000. C M Bidwell & Associates Ltd. bought a new position in shares of Elanco Animal Health during the third quarter valued at about $129,000. Finally, Innovis Asset Management LLC bought a new position in shares of Elanco Animal Health during the third quarter valued at about $144,000. Institutional investors own 97.48% of the company's stock.

About Elanco Animal Health

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.