Wall Street brokerages expect Elanco Animal Health (NASDAQ:ELAN) to report $785.93 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Elanco Animal Health’s earnings, with the highest sales estimate coming in at $791.30 million and the lowest estimate coming in at $780.55 million. The company is scheduled to issue its next earnings results on Thursday, August 8th.
On average, analysts expect that Elanco Animal Health will report full-year sales of $3.12 billion for the current fiscal year, with estimates ranging from $3.11 billion to $3.13 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.21 billion, with estimates ranging from $3.16 billion to $3.25 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Elanco Animal Health.
Elanco Animal Health (NASDAQ:ELAN) last posted its earnings results on Thursday, May 9th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The business had revenue of $731.10 million during the quarter, compared to the consensus estimate of $743.40 million. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS.
A number of research firms recently weighed in on ELAN. Zacks Investment Research cut shares of Elanco Animal Health from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Guggenheim began coverage on shares of Elanco Animal Health in a research note on Wednesday, May 22nd. They issued a “neutral” rating on the stock. UBS Group began coverage on shares of Elanco Animal Health in a research note on Wednesday, March 20th. They issued a “sell” rating and a $28.00 target price on the stock. Bank of America raised shares of Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $30.95 target price on the stock in a research note on Monday, March 18th. Finally, Morgan Stanley began coverage on shares of Elanco Animal Health in a research note on Wednesday, March 13th. They issued an “equal weight” rating and a $34.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.47.
In other news, Director John P. Bilbrey acquired 7,750 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $32.39 per share, with a total value of $251,022.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $214,000. Rhumbline Advisers acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $2,169,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $2,896,000. TD Asset Management Inc. lifted its position in shares of Elanco Animal Health by 60.3% during the fourth quarter. TD Asset Management Inc. now owns 188,824 shares of the company’s stock worth $5,954,000 after purchasing an additional 71,000 shares in the last quarter. Finally, Chartwell Investment Partners LLC acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $251,000.
NASDAQ ELAN traded up $0.61 on Wednesday, reaching $33.18. The company’s stock had a trading volume of 1,166,672 shares, compared to its average volume of 6,910,073. Elanco Animal Health has a 52 week low of $28.00 and a 52 week high of $37.61.
About Elanco Animal Health
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