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Eli Lilly (LLY) Outpaces Stock Market Gains: What You Should Know
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Eli Lilly (LLY - Free Report) closed at $368.29 in the latest trading session, marking a +1.67% move from the prior day. This change outpaced the S&P 500's 0.36% gain on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Heading into today, shares of the drugmaker had gained 15.9% over the past month, outpacing the Medical sector's gain of 1.64% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from Eli Lilly as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, Eli Lilly is projected to report earnings of $1.68 per share, which would represent a year-over-year decline of 35.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.79 billion, down 13.05% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.49 per share and revenue of $30.5 billion, which would represent changes of +6.93% and +6.88%, respectively, from 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% higher. Eli Lilly is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Eli Lilly's current valuation metrics, including its Forward P/E ratio of 42.66. This valuation marks a premium compared to its industry's average Forward P/E of 14.59.
Meanwhile, LLY's PEG ratio is currently 2.05. 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 was holding an average PEG ratio of 1.71 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 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.
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) Outpaces Stock Market Gains: What You Should Know
Eli Lilly (LLY - Free Report) closed at $368.29 in the latest trading session, marking a +1.67% move from the prior day. This change outpaced the S&P 500's 0.36% gain on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Heading into today, shares of the drugmaker had gained 15.9% over the past month, outpacing the Medical sector's gain of 1.64% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from Eli Lilly as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, Eli Lilly is projected to report earnings of $1.68 per share, which would represent a year-over-year decline of 35.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.79 billion, down 13.05% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.49 per share and revenue of $30.5 billion, which would represent changes of +6.93% and +6.88%, respectively, from 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% higher. Eli Lilly is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Eli Lilly's current valuation metrics, including its Forward P/E ratio of 42.66. This valuation marks a premium compared to its industry's average Forward P/E of 14.59.
Meanwhile, LLY's PEG ratio is currently 2.05. 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 was holding an average PEG ratio of 1.71 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.