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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $65.26, moving -1.03% from the previous trading session. This move lagged the S&P 500's daily loss of 0.11%.
Heading into today, shares of the biopharmaceutical company had lost 1.23% over the past month, lagging the Medical sector's gain of 2.36% and the S&P 500's gain of 2.23% in that time.
Investors will be hoping for strength from BMY as it approaches its next earnings release, which is expected to be July 28, 2021. In that report, analysts expect BMY to post earnings of $1.92 per share. This would mark year-over-year growth of 17.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.33 billion, up 11.84% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.46 per share and revenue of $46 billion. These results would represent year-over-year changes of +15.84% and +8.18%, respectively.
Any recent changes to analyst estimates for BMY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. BMY is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BMY is holding a Forward P/E ratio of 8.84. For comparison, its industry has an average Forward P/E of 21.8, which means BMY is trading at a discount to the group.
Meanwhile, BMY's PEG ratio is currently 1.27. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.41 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 209, which puts it in the bottom 18% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $65.26, moving -1.03% from the previous trading session. This move lagged the S&P 500's daily loss of 0.11%.
Heading into today, shares of the biopharmaceutical company had lost 1.23% over the past month, lagging the Medical sector's gain of 2.36% and the S&P 500's gain of 2.23% in that time.
Investors will be hoping for strength from BMY as it approaches its next earnings release, which is expected to be July 28, 2021. In that report, analysts expect BMY to post earnings of $1.92 per share. This would mark year-over-year growth of 17.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.33 billion, up 11.84% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.46 per share and revenue of $46 billion. These results would represent year-over-year changes of +15.84% and +8.18%, respectively.
Any recent changes to analyst estimates for BMY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. BMY is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BMY is holding a Forward P/E ratio of 8.84. For comparison, its industry has an average Forward P/E of 21.8, which means BMY is trading at a discount to the group.
Meanwhile, BMY's PEG ratio is currently 1.27. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.41 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 209, which puts it in the bottom 18% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.