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Eli Lilly (LLY) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Eli Lilly (LLY - Free Report) standing at $531.46, reflecting a +1.19% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.39%, while the tech-heavy Nasdaq added 1.35%.
The drugmaker's stock has dropped by 5.91% in the past month, falling short of the Medical sector's loss of 5.19% and outpacing the S&P 500's loss of 6.19%.
Investors will be eagerly watching for the performance of Eli Lilly in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. The company's earnings per share (EPS) are projected to be $2.63, reflecting a 32.83% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.92 billion, up 28.53% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $9.84 per share and a revenue of $33.62 billion, demonstrating changes of +23.93% and +17.79%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% higher. Currently, Eli Lilly is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Eli Lilly is holding a Forward P/E ratio of 53.4. For comparison, its industry has an average Forward P/E of 14.1, which means Eli Lilly is trading at a premium to the group.
Also, we should mention that LLY has a PEG ratio of 2.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.89 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 226, this industry ranks in the bottom 11% of all industries, numbering over 250.
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.
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) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Eli Lilly (LLY - Free Report) standing at $531.46, reflecting a +1.19% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.39%, while the tech-heavy Nasdaq added 1.35%.
The drugmaker's stock has dropped by 5.91% in the past month, falling short of the Medical sector's loss of 5.19% and outpacing the S&P 500's loss of 6.19%.
Investors will be eagerly watching for the performance of Eli Lilly in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. The company's earnings per share (EPS) are projected to be $2.63, reflecting a 32.83% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.92 billion, up 28.53% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $9.84 per share and a revenue of $33.62 billion, demonstrating changes of +23.93% and +17.79%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% higher. Currently, Eli Lilly is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Eli Lilly is holding a Forward P/E ratio of 53.4. For comparison, its industry has an average Forward P/E of 14.1, which means Eli Lilly is trading at a premium to the group.
Also, we should mention that LLY has a PEG ratio of 2.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.89 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 226, this industry ranks in the bottom 11% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.