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Eli Lilly (LLY) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, Eli Lilly (LLY - Free Report) reached $932.50, with a +1.58% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.14%.
The drugmaker's shares have seen an increase of 6.13% over the last month, surpassing the Medical sector's loss of 1.99% and the S&P 500's gain of 4.34%.
The investment community will be paying close attention to the earnings performance of Eli Lilly in its upcoming release. The company is slated to reveal its earnings on August 8, 2024. The company's upcoming EPS is projected at $2.65, signifying a 25.59% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $9.8 billion, indicating a 17.96% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $13.61 per share and a revenue of $42.87 billion, demonstrating changes of +115.35% and +25.62%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% upward. Currently, Eli Lilly is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Eli Lilly is presently trading at a Forward P/E ratio of 67.45. For comparison, its industry has an average Forward P/E of 14.72, which means Eli Lilly is trading at a premium to the group.
Also, we should mention that LLY has a PEG ratio of 2.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.84.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Eli Lilly (LLY) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Eli Lilly (LLY - Free Report) reached $932.50, with a +1.58% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.14%.
The drugmaker's shares have seen an increase of 6.13% over the last month, surpassing the Medical sector's loss of 1.99% and the S&P 500's gain of 4.34%.
The investment community will be paying close attention to the earnings performance of Eli Lilly in its upcoming release. The company is slated to reveal its earnings on August 8, 2024. The company's upcoming EPS is projected at $2.65, signifying a 25.59% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $9.8 billion, indicating a 17.96% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $13.61 per share and a revenue of $42.87 billion, demonstrating changes of +115.35% and +25.62%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% upward. Currently, Eli Lilly is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Eli Lilly is presently trading at a Forward P/E ratio of 67.45. For comparison, its industry has an average Forward P/E of 14.72, which means Eli Lilly is trading at a premium to the group.
Also, we should mention that LLY has a PEG ratio of 2.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.84.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.