Eli Lilly and Company (NYSE:LLY) Announces $1.30 Quarterly Dividend

Eli Lilly and Company (NYSE:LLY - Get Free Report) declared 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 dividend on an annualized basis and a yield of 0.68%.

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. 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

LLY traded up $31.77 during trading hours on Monday, reaching $766.74. The company's stock had a trading volume of 3,396,224 shares, compared to its average volume of 3,090,840. The company's 50-day moving average is $760.96 and its 200-day moving average is $673.52. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $800.78. The firm has a market cap of $728.72 billion, a PE ratio of 112.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company's quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 13.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LLY. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an "overweight" rating in a research note on Wednesday, May 1st. Truist Financial upped their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. BMO Capital Markets raised their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 1st. Citigroup boosted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd. Finally, Erste Group Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company 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.