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Bristol Myers Squibb (BMY) Gains But Lags Market: What You Should Know
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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $59.71, marking a +0.37% move from the previous day. This move lagged the S&P 500's daily gain of 1.61%. At the same time, the Dow added 1.51%, and the tech-heavy Nasdaq gained 1.87%.
Prior to today's trading, shares of the biopharmaceutical company had lost 4.83% over the past month. This has lagged the Medical sector's loss of 2.02% and the S&P 500's loss of 4.08% in that time.
BMY will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. On that day, BMY is projected to report earnings of $1.48 per share, which would represent year-over-year growth of 26.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.37 billion, up 72.68% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $6.24 per share and revenue of $41.89 billion. These results would represent year-over-year changes of +33.05% and +60.23%, respectively.
It is also important to note the recent changes to analyst estimates for BMY. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. BMY currently has a Zacks Rank of #3 (Hold).
Investors should also note BMY's current valuation metrics, including its Forward P/E ratio of 9.53. This represents a discount compared to its industry's average Forward P/E of 23.87.
It is also worth noting that BMY currently has a PEG ratio of 1.1. 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 Medical - Biomedical and Genetics was holding an average PEG ratio of 1.54 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Bristol Myers Squibb (BMY) Gains But Lags Market: What You Should Know
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $59.71, marking a +0.37% move from the previous day. This move lagged the S&P 500's daily gain of 1.61%. At the same time, the Dow added 1.51%, and the tech-heavy Nasdaq gained 1.87%.
Prior to today's trading, shares of the biopharmaceutical company had lost 4.83% over the past month. This has lagged the Medical sector's loss of 2.02% and the S&P 500's loss of 4.08% in that time.
BMY will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. On that day, BMY is projected to report earnings of $1.48 per share, which would represent year-over-year growth of 26.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.37 billion, up 72.68% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $6.24 per share and revenue of $41.89 billion. These results would represent year-over-year changes of +33.05% and +60.23%, respectively.
It is also important to note the recent changes to analyst estimates for BMY. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. BMY currently has a Zacks Rank of #3 (Hold).
Investors should also note BMY's current valuation metrics, including its Forward P/E ratio of 9.53. This represents a discount compared to its industry's average Forward P/E of 23.87.
It is also worth noting that BMY currently has a PEG ratio of 1.1. 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 Medical - Biomedical and Genetics was holding an average PEG ratio of 1.54 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.