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Eli Lilly (LLY) Registers a Bigger Fall Than the Market: Important Facts to Note
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Eli Lilly (LLY - Free Report) ended the recent trading session at $608.31, demonstrating a -1.35% swing from the preceding day's closing price. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw a decrease of 0.25%.
Coming into today, shares of the drugmaker had gained 7.94% in the past month. In that same time, the Medical sector lost 2.91%, while the S&P 500 lost 1.6%.
Market participants will be closely following the financial results of Eli Lilly in its upcoming release. The company plans to announce its earnings on November 2, 2023. It is anticipated that the company will report an EPS of $0.17, marking a 91.41% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.88 billion, indicating a 27.92% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $6.65 per share and a revenue of $33.49 billion, demonstrating changes of -16.25% and +17.36%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 16.62% decrease. Eli Lilly is currently a Zacks Rank #3 (Hold).
In the context of valuation, Eli Lilly is at present trading with a Forward P/E ratio of 92.76. This valuation marks a premium compared to its industry's average Forward P/E of 14.14.
We can additionally observe that LLY currently boasts a PEG ratio of 3.64. 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 average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.84 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 240, finds itself in the bottom 5% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Eli Lilly (LLY) Registers a Bigger Fall Than the Market: Important Facts to Note
Eli Lilly (LLY - Free Report) ended the recent trading session at $608.31, demonstrating a -1.35% swing from the preceding day's closing price. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw a decrease of 0.25%.
Coming into today, shares of the drugmaker had gained 7.94% in the past month. In that same time, the Medical sector lost 2.91%, while the S&P 500 lost 1.6%.
Market participants will be closely following the financial results of Eli Lilly in its upcoming release. The company plans to announce its earnings on November 2, 2023. It is anticipated that the company will report an EPS of $0.17, marking a 91.41% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.88 billion, indicating a 27.92% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $6.65 per share and a revenue of $33.49 billion, demonstrating changes of -16.25% and +17.36%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 16.62% decrease. Eli Lilly is currently a Zacks Rank #3 (Hold).
In the context of valuation, Eli Lilly is at present trading with a Forward P/E ratio of 92.76. This valuation marks a premium compared to its industry's average Forward P/E of 14.14.
We can additionally observe that LLY currently boasts a PEG ratio of 3.64. 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 average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.84 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 240, finds itself in the bottom 5% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.