Advertisement
Canada markets open in 2 hours 22 minutes
  • S&P/TSX

    22,690.39
    -36.41 (-0.16%)
     
  • S&P 500

    5,505.00
    -39.59 (-0.71%)
     
  • DOW

    40,287.53
    -377.47 (-0.93%)
     
  • CAD/USD

    0.7276
    -0.0006 (-0.09%)
     
  • CRUDE OIL

    79.89
    -0.24 (-0.30%)
     
  • Bitcoin CAD

    92,642.41
    +733.53 (+0.80%)
     
  • CMC Crypto 200

    1,388.67
    -16.66 (-1.19%)
     
  • GOLD FUTURES

    2,408.50
    +9.40 (+0.39%)
     
  • RUSSELL 2000

    2,184.35
    -13.94 (-0.63%)
     
  • 10-Yr Bond

    4.2390
    +0.0500 (+1.19%)
     
  • NASDAQ futures

    19,878.25
    +165.25 (+0.84%)
     
  • VOLATILITY

    16.27
    -0.25 (-1.51%)
     
  • FTSE

    8,218.59
    +62.87 (+0.77%)
     
  • NIKKEI 225

    39,599.00
    -464.79 (-1.16%)
     
  • CAD/EUR

    0.6678
    -0.0012 (-0.18%)
     

Why Eli Lilly (LLY) is a Top Momentum Stock for the Long-Term

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

ADVERTISEMENT

Eli Lilly (LLY)

Indianapolis, IN based Eli Lilly and Company, one of the world’s largest pharmaceutical companies, boasts a diversified product profile including a solid lineup of new successful drugs. It also has a dependable pipeline as it navigates through challenges like patent expirations of several drugs and rising pricing pressure on its U.S. diabetes franchise.

LLY is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 4.3% over the past one week and up 10.2% over the past four weeks. LLY has gained 93.7% in the last one-year period as well. Looking at trading volume, an average of 2,478,356.50 shares exchanged hands over the last 20 trading days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. 10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $1.09 to $13.61 per share. LLY boasts an average earnings surprise of 58.6%.

LLY should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Eli Lilly and Company (LLY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research