Brokerages Anticipate Elanco Animal Health (NASDAQ:ELAN) Will Post Quarterly Sales of $757.70 Million

Wall Street analysts forecast that Elanco Animal Health (NASDAQ:ELAN) will announce sales of $757.70 million for the current quarter, according to Zacks. Two analysts have made estimates for Elanco Animal Health’s earnings, with the highest sales estimate coming in at $760.00 million and the lowest estimate coming in at $755.40 million. Elanco Animal Health reported sales of $761.10 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The company is scheduled to announce its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Elanco Animal Health will report full-year sales of $3.10 billion for the current financial year, with estimates ranging from $3.09 billion to $3.11 billion. For the next year, analysts expect that the firm will report sales of $3.18 billion, with estimates ranging from $3.16 billion to $3.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Elanco Animal Health.

Elanco Animal Health (NASDAQ:ELAN) last issued its earnings results on Tuesday, August 13th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $781.60 million during the quarter, compared to analyst estimates of $781.49 million. The firm’s revenue was up 1.5% on a year-over-year basis.

A number of analysts recently issued reports on the company. BMO Capital Markets raised their price objective on Elanco Animal Health from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Guggenheim assumed coverage on Elanco Animal Health in a research report on Wednesday, May 22nd. They set a “neutral” rating for the company. UBS Group raised Elanco Animal Health from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $31.00 to $30.00 in a research report on Thursday. Finally, Zacks Investment Research downgraded Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.72.

Shares of NASDAQ:ELAN traded up $0.17 during midday trading on Tuesday, reaching $29.36. 3,456,000 shares of the company’s stock were exchanged, compared to its average volume of 5,779,885. The firm’s 50 day simple moving average is $32.76 and its two-hundred day simple moving average is $31.92. Elanco Animal Health has a fifty-two week low of $28.00 and a fifty-two week high of $37.61.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc RI grew its position in Elanco Animal Health by 26.5% in the 2nd quarter. Citizens Financial Group Inc RI now owns 1,875 shares of the company’s stock valued at $63,000 after acquiring an additional 393 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Elanco Animal Health by 1.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,000 shares of the company’s stock valued at $1,115,000 after acquiring an additional 500 shares in the last quarter. Brown Advisory Inc. grew its position in Elanco Animal Health by 6.4% in the 2nd quarter. Brown Advisory Inc. now owns 10,631 shares of the company’s stock valued at $359,000 after acquiring an additional 643 shares in the last quarter. Zions Bancorporation N.A. grew its position in Elanco Animal Health by 68.1% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,750 shares of the company’s stock valued at $59,000 after acquiring an additional 709 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. acquired a new position in Elanco Animal Health in the 1st quarter valued at about $25,000.

About Elanco Animal Health

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

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