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Bristol Myers Squibb (BMY) Stock Moves -0.85%: What You Should Know

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Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $71.99, moving -0.85% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.2%. Meanwhile, the Dow lost 1.1%, and the Nasdaq, a tech-heavy index, lost 2.86%.

Prior to today's trading, shares of the biopharmaceutical company had lost 8.12% over the past month. This has lagged the Medical sector's gain of 0.3% and the S&P 500's loss of 4.77% in that time.

Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be February 2, 2023. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.74 per share. This would mark a year-over-year decline of 4.92%. Our most recent consensus estimate is calling for quarterly revenue of $11.13 billion, down 7.16% from the year-ago period.

BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.60 per share and revenue of $45.88 billion. These results would represent year-over-year changes of +1.2% and -1.09%, respectively.

Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 9.55. Its industry sports an average Forward P/E of 19.61, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.

We can also see that BMY currently has a PEG ratio of 1.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.27 as of yesterday's close.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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