Elanco Animal Health (NYSE:ELAN) Issues FY 2024 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.880-0.960 for the period, compared to the consensus EPS estimate of 0.920. The company issued revenue guidance of $4.5 billion-$4.5 billion, compared to the consensus revenue estimate of $4.5 billion. Elanco Animal Health also updated its FY24 guidance to $0.88-0.96 EPS.

Analyst Ratings Changes

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

Elanco Animal Health Price Performance

Shares of Elanco Animal Health stock traded up $3.38 on Wednesday, reaching $16.90. 10,798,967 shares of the stock were exchanged, compared to its average volume of 4,450,793. The firm’s 50 day moving average is $14.96 and its 200-day moving average is $14.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75. Elanco Animal Health has a one year low of $7.88 and a one year high of $17.23. The firm has a market cap of $8.35 billion, a PE ratio of -6.76, a P/E/G ratio of 1.42 and a beta of 1.34.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. Elanco Animal Health’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. As a group, analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Insider Activity

In related news, Director R David Hoover acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $16.14 per share, with a total value of $322,800.00. Following the purchase, 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 can be accessed through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

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.