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Eli Lilly (LLY) Beats Stock Market Upswing: What Investors Need to Know
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In the latest trading session, Eli Lilly (LLY - Free Report) closed at $807.79, marking a +0.39% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
The the stock of drugmaker has fallen by 11.13% in the past month, lagging the Medical sector's gain of 0.48% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Eli Lilly in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is forecasted to report an EPS of $2.64, showcasing a 25.12% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $9.83 billion, up 18.26% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.79 per share and revenue of $42.98 billion. These totals would mark changes of +118.2% and +25.96%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.21% upward. Eli Lilly currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Eli Lilly currently has a Forward P/E ratio of 58.35. This expresses a premium compared to the average Forward P/E of 15.82 of its industry.
It's also important to note that LLY currently trades at a PEG ratio of 1.75. 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 1.64 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 185, finds itself in the bottom 27% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Eli Lilly (LLY) Beats Stock Market Upswing: What Investors Need to Know
In the latest trading session, Eli Lilly (LLY - Free Report) closed at $807.79, marking a +0.39% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
The the stock of drugmaker has fallen by 11.13% in the past month, lagging the Medical sector's gain of 0.48% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Eli Lilly in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is forecasted to report an EPS of $2.64, showcasing a 25.12% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $9.83 billion, up 18.26% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.79 per share and revenue of $42.98 billion. These totals would mark changes of +118.2% and +25.96%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Eli Lilly. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.21% upward. Eli Lilly currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Eli Lilly currently has a Forward P/E ratio of 58.35. This expresses a premium compared to the average Forward P/E of 15.82 of its industry.
It's also important to note that LLY currently trades at a PEG ratio of 1.75. 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 1.64 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 185, finds itself in the bottom 27% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.