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Eli Lilly (LLY) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest market close, Eli Lilly (LLY - Free Report) reached $941.60, with a -0.93% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.64%. Elsewhere, the Dow saw an upswing of 1.85%, while the tech-heavy Nasdaq appreciated by 0.2%.
Coming into today, shares of the drugmaker had gained 7.4% in the past month. In that same time, the Medical sector gained 0.71%, while the S&P 500 gained 3.82%.
The upcoming earnings release of Eli Lilly will be of great interest to investors. The company's earnings report is expected on August 8, 2024. The company is forecasted to report an EPS of $2.67, showcasing a 26.54% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $9.8 billion, up 17.96% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.61 per share and revenue of $42.85 billion, which would represent changes of +115.35% and +25.57%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 0.01% downward. Eli Lilly is currently a Zacks Rank #3 (Hold).
In terms of valuation, Eli Lilly is currently trading at a Forward P/E ratio of 69.84. This represents a premium compared to its industry's average Forward P/E of 14.97.
We can also see that LLY currently has a PEG ratio of 2.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. LLY's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 106, positioning it in the top 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest market close, Eli Lilly (LLY - Free Report) reached $941.60, with a -0.93% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.64%. Elsewhere, the Dow saw an upswing of 1.85%, while the tech-heavy Nasdaq appreciated by 0.2%.
Coming into today, shares of the drugmaker had gained 7.4% in the past month. In that same time, the Medical sector gained 0.71%, while the S&P 500 gained 3.82%.
The upcoming earnings release of Eli Lilly will be of great interest to investors. The company's earnings report is expected on August 8, 2024. The company is forecasted to report an EPS of $2.67, showcasing a 26.54% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $9.8 billion, up 17.96% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.61 per share and revenue of $42.85 billion, which would represent changes of +115.35% and +25.57%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 0.01% downward. Eli Lilly is currently a Zacks Rank #3 (Hold).
In terms of valuation, Eli Lilly is currently trading at a Forward P/E ratio of 69.84. This represents a premium compared to its industry's average Forward P/E of 14.97.
We can also see that LLY currently has a PEG ratio of 2.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. LLY's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 106, positioning it in the top 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.