Eli Lilly (LLY) Stock Moves -0.05%: What You Should Know

The latest trading session saw Eli Lilly (LLY) ending at $778.62, denoting a -0.05% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 0.32%.

Coming into today, shares of the drugmaker had gained 7.12% in the past month. In that same time, the Medical sector lost 0.78%, while the S&P 500 gained 3.6%.

The investment community will be closely monitoring the performance of Eli Lilly in its forthcoming earnings report. The company's upcoming EPS is projected at $5.49, signifying a 120.48% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $14.08 billion, up 50.57% from the prior-year quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.17 per share and a revenue of $45.59 billion, representing changes of +108.39% and +33.62%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Eli Lilly. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.23% downward. Right now, Eli Lilly possesses a Zacks Rank of #3 (Hold).

Looking at its valuation, Eli Lilly is holding a Forward P/E ratio of 59.16. This denotes a premium relative to the industry's average Forward P/E of 13.9.

Investors should also note that LLY has a PEG ratio of 2.96 right now. 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 Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.46 as of yesterday's close.