Elanco Animal Health Incorporated Forecasted to Post Q2 2024 Earnings of $0.24 Per Share (NYSE:ELAN)

Elanco Animal Health Incorporated (NYSE:ELANFree Report) – Equities researchers at William Blair lowered their Q2 2024 EPS estimates for Elanco Animal Health in a report issued on Wednesday, May 8th. William Blair analyst B. Vazquez now forecasts that the company will earn $0.24 per share for the quarter, down from their prior estimate of $0.26. The consensus estimate for Elanco Animal Health’s current full-year earnings is $0.91 per share. William Blair also issued estimates for Elanco Animal Health’s FY2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.20 EPS and FY2025 earnings at $1.06 EPS.

Elanco Animal Health (NYSE:ELANGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis.

Several other brokerages also recently issued reports on ELAN. Barclays increased their price objective on Elanco Animal Health from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday. TheStreet raised shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. Morgan Stanley increased their target price 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. Finally, The Goldman Sachs Group boosted their price target on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.29.

Read Our Latest Stock Report on Elanco Animal Health

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $17.00 on Friday. Elanco Animal Health has a 12 month low of $7.88 and a 12 month high of $17.43. The company has a quick ratio of 1.35, a current ratio of 2.75 and a debt-to-equity ratio of 0.92. The stock has a market cap of $8.40 billion, a PE ratio of -6.80, a price-to-earnings-growth ratio of 1.39 and a beta of 1.34. The business has a fifty day simple moving average of $15.02 and a 200-day simple moving average of $14.11.

Hedge Funds Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hunter Associates Investment Management LLC lifted its position in shares of Elanco Animal Health by 5.1% during the 1st quarter. Hunter Associates Investment Management LLC now owns 16,600 shares of the company’s stock worth $269,000 after purchasing an additional 800 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Elanco Animal Health by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 221,460 shares of the company’s stock worth $2,489,000 after buying an additional 1,107 shares during the period. Bfsg LLC lifted its holdings in shares of Elanco Animal Health by 8.2% during the first quarter. Bfsg LLC now owns 14,885 shares of the company’s stock worth $242,000 after buying an additional 1,125 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Elanco Animal Health by 10.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock valued at $181,000 after acquiring an additional 1,127 shares during the period. Finally, Commerce Bank grew its stake in shares of Elanco Animal Health by 3.8% in the fourth quarter. Commerce Bank now owns 33,665 shares of the company’s stock worth $502,000 after acquiring an additional 1,223 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Insiders Place Their Bets

In other Elanco Animal Health news, Director R David Hoover bought 20,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $16.14 per share, with a total value of $322,800.00. Following the completion of the transaction, the director now directly owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

About Elanco Animal Health

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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.

See Also

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

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