In the last trading session, 6.41 million shares of the Elanco Animal Health Incorporated (NYSE:ELAN) were traded, and its beta was 0.93. Most recently the company’s share price was $8.62, and it changed around -$0.28 or -3.15% from the last close, which brings the market valuation of the company to $4.34B. ELAN currently trades at a discount to its 52-week high of $24.93, offering almost -189.21% off that amount. The share price’s 52-week low was $8.48, which indicates that the current value has risen by an impressive 1.62% since then. We note from Elanco Animal Health Incorporated’s average daily trading volume that its 10-day average is 6.67 million shares, with the 3-month average coming to 7.62 million.
Elanco Animal Health Incorporated stock received a consensus recommendation rating of a Hold, based on a mean score of 2.70. If we narrow it down even further, the data shows that 1 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended ELAN as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Elanco Animal Health Incorporated is expected to report earnings per share of $0.05 for the current quarter.
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Elanco Animal Health Incorporated (NYSE:ELAN) trade information
Instantly ELAN has showed a red trend with a performance of -3.15% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 8.96 on Tuesday, 05/23/23 increased the stock’s daily price by 3.79%. The company’s shares are currently down -29.46% year-to-date, but still up 0.94% over the last five days. On the other hand, Elanco Animal Health Incorporated (NYSE:ELAN) is -15.24% up in the 30-day period. We can see from the shorts that 10.97 million shares have been sold at a short interest cover period of 1.56 day(s).
The consensus price target as assigned by Wall Street analysts is $13.19, which translates to bulls needing to increase their stock price by 34.65% from its current value. Analyst projections state that ELAN is forecast to be at a low of $8.50 and a high of $19.00. In order for the stock price to hit the forecast high, the stock would need to plunge -120.42% from its current level, while the stock would need to crash 1.39% from its current level to reach the projected low.
Elanco Animal Health Incorporated (ELAN) estimates and forecasts
Elanco Animal Health Incorporated share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -27.62 percent over the past six months and at a -27.93% annual growth rate that is well below the industry average of 6.10%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -86.10% in revenue this quarter, and will report a decrease of -20.00% in the next quarter. The year-over-year growth rate is expected to be -1.50%, down from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $1.04 billion in revenue for the current quarter. 7 analysts expect Elanco Animal Health Incorporated to make $1.04 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.18 billion and $1.03 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -11.90%. Forecasts for the next quarter put sales growth at 0.50%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 30.20%. Elanco Animal Health Incorporated earnings are expected to increase by 83.90% in 2023, but the outlook is positive 7.00% per year for the next five years.
Elanco Animal Health Incorporated’s next quarterly earnings report is expected to be released around August 07 and August 11.
Elanco Animal Health Incorporated (NYSE:ELAN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.53% of Elanco Animal Health Incorporated shares, and 100.29% of them are in the hands of institutional investors. The stock currently has a share float of 100.82%. Elanco Animal Health Incorporated stock is held by 601 institutions, with Dodge & Cox Inc being the largest institutional investor. By Mar 30, 2023, it held 17.21% of the shares, which is about 84.77 million shares worth $796.88 million.
Vanguard Group, Inc. (The), with 9.41% or 46.32 million shares worth $435.45 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 54.9 million shares worth $670.92 million, making up 11.16% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 14.46 million shares worth around $176.68 million, which represents about 2.94% of the total shares outstanding.