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

Elanco Animal Health (NYSE:ELAN) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.890-0.950 for the period, compared to the consensus earnings per share estimate of 0.920. The company issued revenue guidance of $4.4 billion-$4.5 billion, compared to the consensus revenue estimate of $4.4 billion. Elanco Animal Health also updated its Q4 guidance to $0.13-$0.18 EPS.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Barclays decreased their price objective on Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.00.

Elanco Animal Health Price Performance

NYSE ELAN opened at $12.86 on Thursday. The stock has a 50-day moving average of $13.97 and a 200 day moving average of $14.72. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of -5.04, a PEG ratio of 1.31 and a beta of 1.41. Elanco Animal Health has a one year low of $9.62 and a one year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. On average, sell-side analysts forecast that Elanco Animal Health will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael J. Harrington bought 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the purchase, the director now owns 81,094 shares in the company, valued at $1,204,245.90. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. This trade represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.57% 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.