Elanco Animal Health (NYSE:ELAN) Issues FY24 Earnings Guidance

Elanco Animal Health (NYSE:ELAN - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.88-0.96 for the period, compared to the consensus earnings per share estimate of $0.92. The company issued revenue guidance of $4.460-4.515 billion, compared to the consensus revenue estimate of $4.50 billion. Elanco Animal Health also updated its FY 2024 guidance to 0.880-0.960 EPS.

Elanco Animal Health Price Performance

Shares of ELAN stock traded up $3.36 during trading hours on Wednesday, reaching $16.88. The stock had a trading volume of 19,728,918 shares, compared to its average volume of 4,553,548. The stock's fifty day simple moving average is $14.96 and its 200 day simple moving average is $14.02. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $8.34 billion, a PE ratio of -6.76, a PEG ratio of 1.42 and a beta of 1.34. Elanco Animal Health has a 12 month low of $7.88 and a 12 month high of $17.23.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities research analysts predict that Elanco Animal Health will post 0.91 EPS for the current year.

Analysts Set New Price Targets

ELAN has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Elanco Animal Health from $16.00 to $17.00 and gave the company an overweight rating in a report on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a sell rating in a research report on Tuesday, February 27th. Barclays increased their price target on shares of Elanco Animal Health from $18.00 to $19.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Finally, TheStreet raised shares of Elanco Animal Health from a d+ rating to a c- rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $16.71.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director R David Hoover bought 20,000 shares of the firm's 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 transaction, the director now directly owns 185,000 shares in the company, valued at $2,985,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.57% of the company's stock.

Elanco Animal Health Company Profile

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.