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Eli Lilly (LLY) Dips More Than Broader Markets: What You Should Know
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Eli Lilly (LLY - Free Report) closed the most recent trading day at $352.01, moving -1.6% from the previous trading session. This change lagged the S&P 500's daily loss of 1.56%. At the same time, the Dow lost 1.81%, and the tech-heavy Nasdaq lost 4.66%.
Prior to today's trading, shares of the drugmaker had lost 0.53% over the past month. This has lagged the Medical sector's gain of 0.86% and the S&P 500's gain of 3.82% in that time.
Wall Street will be looking for positivity from Eli Lilly as it approaches its next earnings report date. This is expected to be February 2, 2023. On that day, Eli Lilly is projected to report earnings of $1.91 per share, which would represent a year-over-year decline of 23.29%. Meanwhile, our latest consensus estimate is calling for revenue of $7.31 billion, down 8.63% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Eli Lilly. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Eli Lilly is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that Eli Lilly has a Forward P/E ratio of 42.21 right now. This represents a premium compared to its industry's average Forward P/E of 14.69.
Investors should also note that LLY has a PEG ratio of 2.13 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.78 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Eli Lilly (LLY) Dips More Than Broader Markets: What You Should Know
Eli Lilly (LLY - Free Report) closed the most recent trading day at $352.01, moving -1.6% from the previous trading session. This change lagged the S&P 500's daily loss of 1.56%. At the same time, the Dow lost 1.81%, and the tech-heavy Nasdaq lost 4.66%.
Prior to today's trading, shares of the drugmaker had lost 0.53% over the past month. This has lagged the Medical sector's gain of 0.86% and the S&P 500's gain of 3.82% in that time.
Wall Street will be looking for positivity from Eli Lilly as it approaches its next earnings report date. This is expected to be February 2, 2023. On that day, Eli Lilly is projected to report earnings of $1.91 per share, which would represent a year-over-year decline of 23.29%. Meanwhile, our latest consensus estimate is calling for revenue of $7.31 billion, down 8.63% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Eli Lilly. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Eli Lilly is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that Eli Lilly has a Forward P/E ratio of 42.21 right now. This represents a premium compared to its industry's average Forward P/E of 14.69.
Investors should also note that LLY has a PEG ratio of 2.13 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.78 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.