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Eli Lilly (LLY) Gains As Market Dips: What You Should Know
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In the latest trading session, Eli Lilly (LLY - Free Report) closed at $316.85, marking a +1.38% move from the previous day. This change outpaced the S&P 500's 1.85% loss on the day. Meanwhile, the Dow lost 1.66%, and the Nasdaq, a tech-heavy index, lost 10.91%.
Heading into today, shares of the drugmaker had lost 8.27% over the past month, lagging the Medical sector's loss of 3.72% and the S&P 500's loss of 2.85% in that time.
Wall Street will be looking for positivity from Eli Lilly as it approaches its next earnings report date. On that day, Eli Lilly is projected to report earnings of $1.66 per share, which would represent a year-over-year decline of 36.64%. Our most recent consensus estimate is calling for quarterly revenue of $6.79 billion, down 13.07% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.46 per share and revenue of $30.5 billion, which would represent changes of +6.55% and +6.87%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Eli Lilly. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.6% lower within the past month. Eli Lilly is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Eli Lilly is holding a Forward P/E ratio of 36.96. Its industry sports an average Forward P/E of 13.5, so we one might conclude that Eli Lilly is trading at a premium comparatively.
We can also see that LLY currently has a PEG ratio of 1.79. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.62 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Eli Lilly (LLY) Gains As Market Dips: What You Should Know
In the latest trading session, Eli Lilly (LLY - Free Report) closed at $316.85, marking a +1.38% move from the previous day. This change outpaced the S&P 500's 1.85% loss on the day. Meanwhile, the Dow lost 1.66%, and the Nasdaq, a tech-heavy index, lost 10.91%.
Heading into today, shares of the drugmaker had lost 8.27% over the past month, lagging the Medical sector's loss of 3.72% and the S&P 500's loss of 2.85% in that time.
Wall Street will be looking for positivity from Eli Lilly as it approaches its next earnings report date. On that day, Eli Lilly is projected to report earnings of $1.66 per share, which would represent a year-over-year decline of 36.64%. Our most recent consensus estimate is calling for quarterly revenue of $6.79 billion, down 13.07% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.46 per share and revenue of $30.5 billion, which would represent changes of +6.55% and +6.87%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Eli Lilly. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.6% lower within the past month. Eli Lilly is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Eli Lilly is holding a Forward P/E ratio of 36.96. Its industry sports an average Forward P/E of 13.5, so we one might conclude that Eli Lilly is trading at a premium comparatively.
We can also see that LLY currently has a PEG ratio of 1.79. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.62 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.