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Eli Lilly (LLY) Advances But Underperforms Market: Key Facts

The most recent trading session ended with Eli Lilly (LLY) standing at $731.33, reflecting a +0.69% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.87% gain on the day. Meanwhile, the Dow gained 0.67%, and the Nasdaq, a tech-heavy index, added 1.11%.

Prior to today's trading, shares of the drugmaker had lost 5.75% over the past month. This has was narrower than the Medical sector's loss of 6.67% and lagged the S&P 500's loss of 3.97% in that time.

The investment community will be paying close attention to the earnings performance of Eli Lilly in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. The company's upcoming EPS is projected at $2.54, signifying a 56.79% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.81 billion, indicating a 26.57% increase compared to the same quarter of the previous year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.52 per share and revenue of $41.29 billion. These totals would mark changes of +98.1% and +21.01%, respectively, from last year.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Eli Lilly. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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, 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.71% higher. As of now, Eli Lilly holds a Zacks Rank of #3 (Hold).

In the context of valuation, Eli Lilly is at present trading with a Forward P/E ratio of 58.01. This denotes a premium relative to the industry's average Forward P/E of 13.89.

Meanwhile, LLY's PEG ratio is currently 1.58. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.63 at yesterday's closing price.

The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 217, this industry ranks in the bottom 14% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 and Company (LLY) : Free Stock Analysis Report

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