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Eli Lilly (LLY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Eli Lilly (LLY - Free Report) closed the most recent trading day at $614.50, moving -0.52% from the previous trading session. This move lagged the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq decreased by 0.56%.
The drugmaker's stock has climbed by 4.83% in the past month, falling short of the Medical sector's gain of 5.72% and outpacing the S&P 500's gain of 2.56%.
The upcoming earnings release of Eli Lilly will be of great interest to investors. The company's earnings report is expected on February 6, 2024. The company's earnings per share (EPS) are projected to be $2.77, reflecting a 32.54% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $8.86 billion, indicating a 21.31% growth compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Eli Lilly. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. Eli Lilly is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Eli Lilly has a Forward P/E ratio of 49.32 right now. This signifies a premium in comparison to the average Forward P/E of 14.37 for its industry.
Meanwhile, LLY's PEG ratio is currently 1.98. 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. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.9.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 158, finds itself in the bottom 38% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Eli Lilly (LLY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Eli Lilly (LLY - Free Report) closed the most recent trading day at $614.50, moving -0.52% from the previous trading session. This move lagged the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq decreased by 0.56%.
The drugmaker's stock has climbed by 4.83% in the past month, falling short of the Medical sector's gain of 5.72% and outpacing the S&P 500's gain of 2.56%.
The upcoming earnings release of Eli Lilly will be of great interest to investors. The company's earnings report is expected on February 6, 2024. The company's earnings per share (EPS) are projected to be $2.77, reflecting a 32.54% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $8.86 billion, indicating a 21.31% growth compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Eli Lilly. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. Eli Lilly is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Eli Lilly has a Forward P/E ratio of 49.32 right now. This signifies a premium in comparison to the average Forward P/E of 14.37 for its industry.
Meanwhile, LLY's PEG ratio is currently 1.98. 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. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.9.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 158, finds itself in the bottom 38% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.