Elanco Animal Health (NYSE:ELAN) Updates Q2 Earnings Guidance

Elanco Animal Health (NYSE:ELAN) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.23-0.26 for the period, compared to the consensus earnings per share estimate of $0.24. The company issued revenue guidance of $1.145-1.170 billion, compared to the consensus revenue estimate of $1.15 billion. Elanco Animal Health also updated its FY 2024 guidance to 0.880-0.960 EPS.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Barclays lifted their price objective on shares of Elanco Animal Health from $18.00 to $19.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. TheStreet upgraded 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 lifted their price objective 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. One equities 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $16.71.

Elanco Animal Health Price Performance

Shares of ELAN traded up $3.34 during mid-day trading on Wednesday, hitting $16.86. The company’s stock had a trading volume of 12,395,233 shares, compared to its average volume of 4,467,200. The firm has a 50-day moving average price of $14.96 and a 200 day moving average price of $14.02. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of -6.76, a PEG ratio of 1.42 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.75 and a quick ratio of 1.35. Elanco Animal Health has a fifty-two week low of $7.88 and a fifty-two week high of $17.23.

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

Insider Activity

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the acquisition, the director now owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

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.