We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eli Lilly (LLY) Beats Stock Market Upswing: What Investors Need to Know
Read MoreHide Full Article
Eli Lilly (LLY - Free Report) ended the recent trading session at $645, demonstrating a +0.9% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.76% for the day. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 1.12%.
Prior to today's trading, shares of the drugmaker had gained 9.66% over the past month. This has outpaced the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Eli Lilly in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. On that day, Eli Lilly is projected to report earnings of $2.76 per share, which would represent year-over-year growth of 32.06%. At the same time, our most recent consensus estimate is projecting a revenue of $8.86 billion, reflecting a 21.38% rise from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.44% lower within the past month. Eli Lilly is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Eli Lilly is currently trading at a Forward P/E ratio of 51.18. This denotes a premium relative to the industry's average Forward P/E of 14.65.
It is also worth noting that LLY currently has a PEG ratio of 2.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.77 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 37% of over 250 industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Eli Lilly (LLY) Beats Stock Market Upswing: What Investors Need to Know
Eli Lilly (LLY - Free Report) ended the recent trading session at $645, demonstrating a +0.9% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.76% for the day. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 1.12%.
Prior to today's trading, shares of the drugmaker had gained 9.66% over the past month. This has outpaced the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Eli Lilly in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. On that day, Eli Lilly is projected to report earnings of $2.76 per share, which would represent year-over-year growth of 32.06%. At the same time, our most recent consensus estimate is projecting a revenue of $8.86 billion, reflecting a 21.38% rise from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.44% lower within the past month. Eli Lilly is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Eli Lilly is currently trading at a Forward P/E ratio of 51.18. This denotes a premium relative to the industry's average Forward P/E of 14.65.
It is also worth noting that LLY currently has a PEG ratio of 2.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.77 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 37% of over 250 industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.