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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 $375.15 in the latest trading session, marking a +1.65% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Coming into today, shares of the drugmaker had gained 12.01% in the past month. In that same time, the Medical sector gained 7.14%, while the S&P 500 gained 6.11%.
Eli Lilly will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect Eli Lilly to post earnings of $1.68 per share. This would mark a year-over-year decline of 35.88%. Meanwhile, our latest consensus estimate is calling for revenue of $6.81 billion, down 12.87% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.50 per share and revenue of $30.54 billion, which would represent changes of +7.05% and +7.02%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.07% higher. Eli Lilly is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Eli Lilly currently has a Forward P/E ratio of 43.43. This valuation marks a premium compared to its industry's average Forward P/E of 14.8.
Also, we should mention that LLY has a PEG ratio of 2.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.83 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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 $375.15 in the latest trading session, marking a +1.65% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Coming into today, shares of the drugmaker had gained 12.01% in the past month. In that same time, the Medical sector gained 7.14%, while the S&P 500 gained 6.11%.
Eli Lilly will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect Eli Lilly to post earnings of $1.68 per share. This would mark a year-over-year decline of 35.88%. Meanwhile, our latest consensus estimate is calling for revenue of $6.81 billion, down 12.87% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.50 per share and revenue of $30.54 billion, which would represent changes of +7.05% and +7.02%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.07% higher. Eli Lilly is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Eli Lilly currently has a Forward P/E ratio of 43.43. This valuation marks a premium compared to its industry's average Forward P/E of 14.8.
Also, we should mention that LLY has a PEG ratio of 2.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.83 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.