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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 $346.39, marking a +1.22% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 3.22%.
Heading into today, shares of the drugmaker had lost 6.98% over the past month, lagging the Medical sector's loss of 0.32% and the S&P 500's gain of 4.64% in that time.
Investors will be hoping for strength from Eli Lilly as it approaches its next earnings release, which is expected to be February 2, 2023. In that report, analysts expect Eli Lilly to post earnings of $1.91 per share. This would mark a year-over-year decline of 23.29%. Our most recent consensus estimate is calling for quarterly revenue of $7.31 billion, down 8.63% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Eli Lilly. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. Eli Lilly is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Eli Lilly currently has a Forward P/E ratio of 40.38. This represents a premium compared to its industry's average Forward P/E of 14.61.
Investors should also note that LLY has a PEG ratio of 2.04 right now. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.8 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $346.39, marking a +1.22% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 3.22%.
Heading into today, shares of the drugmaker had lost 6.98% over the past month, lagging the Medical sector's loss of 0.32% and the S&P 500's gain of 4.64% in that time.
Investors will be hoping for strength from Eli Lilly as it approaches its next earnings release, which is expected to be February 2, 2023. In that report, analysts expect Eli Lilly to post earnings of $1.91 per share. This would mark a year-over-year decline of 23.29%. Our most recent consensus estimate is calling for quarterly revenue of $7.31 billion, down 8.63% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Eli Lilly. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. Eli Lilly is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Eli Lilly currently has a Forward P/E ratio of 40.38. This represents a premium compared to its industry's average Forward P/E of 14.61.
Investors should also note that LLY has a PEG ratio of 2.04 right now. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.8 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.