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Eli Lilly (LLY) Increases Despite Market Slip: Here's What You Need to Know
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The most recent trading session ended with Eli Lilly (LLY - Free Report) standing at $761.98, reflecting a +0.63% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.95%. Meanwhile, the Dow lost 1.09%, and the Nasdaq, a tech-heavy index, lost 0.84%.
Shares of the drugmaker have appreciated by 0.3% over the course of the past month, outperforming the Medical sector's loss of 3.76% and lagging the S&P 500's gain of 1.78%.
Market participants will be closely following the financial results of Eli Lilly in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company's upcoming EPS is projected at $2.61, signifying a 61.11% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.88 billion, indicating a 27.54% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.47 per share and revenue of $41.13 billion, indicating changes of +97.31% and +20.54%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Eli Lilly. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.49% higher. At present, Eli Lilly boasts a Zacks Rank of #3 (Hold).
Investors should also note Eli Lilly's current valuation metrics, including its Forward P/E ratio of 60.72. Its industry sports an average Forward P/E of 14.3, so one might conclude that Eli Lilly is trading at a premium comparatively.
Meanwhile, LLY's PEG ratio is currently 1.66. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.71.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 211, finds itself in the bottom 17% echelons 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.
To follow LLY in the coming trading sessions, be sure to utilize Zacks.com.
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Eli Lilly (LLY) Increases Despite Market Slip: Here's What You Need to Know
The most recent trading session ended with Eli Lilly (LLY - Free Report) standing at $761.98, reflecting a +0.63% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.95%. Meanwhile, the Dow lost 1.09%, and the Nasdaq, a tech-heavy index, lost 0.84%.
Shares of the drugmaker have appreciated by 0.3% over the course of the past month, outperforming the Medical sector's loss of 3.76% and lagging the S&P 500's gain of 1.78%.
Market participants will be closely following the financial results of Eli Lilly in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company's upcoming EPS is projected at $2.61, signifying a 61.11% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.88 billion, indicating a 27.54% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.47 per share and revenue of $41.13 billion, indicating changes of +97.31% and +20.54%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Eli Lilly. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.49% higher. At present, Eli Lilly boasts a Zacks Rank of #3 (Hold).
Investors should also note Eli Lilly's current valuation metrics, including its Forward P/E ratio of 60.72. Its industry sports an average Forward P/E of 14.3, so one might conclude that Eli Lilly is trading at a premium comparatively.
Meanwhile, LLY's PEG ratio is currently 1.66. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.71.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 211, finds itself in the bottom 17% echelons 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.
To follow LLY in the coming trading sessions, be sure to utilize Zacks.com.