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

Elanco Animal Health (NYSE:ELANGet Rating) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.22-0.28 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $1.16-1.20 billion, compared to the consensus revenue estimate of $1.27 billion.Elanco Animal Health also updated its FY22 guidance to $1.15-1.21 EPS.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Elanco Animal Health from a sell rating to a hold rating in a research note on Monday, February 28th. Barclays lifted their price objective on shares of Elanco Animal Health from $30.00 to $32.00 and gave the stock an equal weight rating in a research note on Monday, February 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Buy and an average price target of $38.43.

Shares of Elanco Animal Health stock opened at $23.79 on Monday. Elanco Animal Health has a 12-month low of $23.25 and a 12-month high of $37.49. The firm’s 50 day simple moving average is $26.32 and its two-hundred day simple moving average is $27.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.16 and a current ratio of 1.99.

Elanco Animal Health (NYSE:ELANGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Elanco Animal Health had a negative net margin of 9.91% and a positive return on equity of 6.59%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. Sell-side analysts anticipate that Elanco Animal Health will post 1.2 earnings per share for the current year.

In related news, Director R David Hoover purchased 5,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was acquired at an average cost of $28.66 per share, for a total transaction of $143,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ELAN. BlackRock Inc. increased its stake in shares of Elanco Animal Health by 2.3% in the fourth quarter. BlackRock Inc. now owns 24,586,872 shares of the company’s stock worth $697,775,000 after buying an additional 548,577 shares during the last quarter. Vident Investment Advisory LLC grew its stake in shares of Elanco Animal Health by 5.6% in the 4th quarter. Vident Investment Advisory LLC now owns 18,793 shares of the company’s stock valued at $534,000 after buying an additional 997 shares in the last quarter. Forum Financial Management LP bought a new stake in Elanco Animal Health during the fourth quarter worth approximately $301,000. Comerica Bank acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $6,421,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Elanco Animal Health by 20.9% in the fourth quarter. Allianz Asset Management GmbH now owns 1,101,427 shares of the company’s stock valued at $31,258,000 after purchasing an additional 190,114 shares in the last quarter.

About Elanco Animal Health (Get Rating)

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.

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Earnings History and Estimates for Elanco Animal Health (NYSE:ELAN)

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