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Eli Lilly (LLY) Stock Dips While Market Gains: Key Facts
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Eli Lilly (LLY - Free Report) closed the latest trading day at $749.26, indicating a -0.2% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.12%.
Shares of the drugmaker witnessed a loss of 1.56% over the previous month, beating the performance of the Medical sector with its loss of 5.81% and underperforming the S&P 500's loss of 0.9%.
The upcoming earnings release of Eli Lilly will be of great interest to investors. The company's earnings report is expected on April 30, 2024. On that day, Eli Lilly is projected to report earnings of $2.53 per share, which would represent year-over-year growth of 56.17%. Our most recent consensus estimate is calling for quarterly revenue of $8.88 billion, up 27.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.50 per share and revenue of $41.23 billion, which would represent changes of +97.78% and +20.82%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.69% upward. Currently, Eli Lilly is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Eli Lilly is currently being traded at a Forward P/E ratio of 60.06. This denotes a premium relative to the industry's average Forward P/E of 13.85.
It is also worth noting that LLY currently has a PEG ratio of 1.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.69 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Eli Lilly (LLY) Stock Dips While Market Gains: Key Facts
Eli Lilly (LLY - Free Report) closed the latest trading day at $749.26, indicating a -0.2% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.12%.
Shares of the drugmaker witnessed a loss of 1.56% over the previous month, beating the performance of the Medical sector with its loss of 5.81% and underperforming the S&P 500's loss of 0.9%.
The upcoming earnings release of Eli Lilly will be of great interest to investors. The company's earnings report is expected on April 30, 2024. On that day, Eli Lilly is projected to report earnings of $2.53 per share, which would represent year-over-year growth of 56.17%. Our most recent consensus estimate is calling for quarterly revenue of $8.88 billion, up 27.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.50 per share and revenue of $41.23 billion, which would represent changes of +97.78% and +20.82%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Eli Lilly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.69% upward. Currently, Eli Lilly is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Eli Lilly is currently being traded at a Forward P/E ratio of 60.06. This denotes a premium relative to the industry's average Forward P/E of 13.85.
It is also worth noting that LLY currently has a PEG ratio of 1.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.69 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.