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Bristol Myers Squibb (BMY) Gains But Lags Market: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed at $64.91 in the latest trading session, marking a +1.64% move from the prior day. This move lagged the S&P 500's daily gain of 2.44%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 0.28%.
Coming into today, shares of the biopharmaceutical company had gained 2.14% in the past month. In that same time, the Medical sector lost 12.92%, while the S&P 500 lost 9.65%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be February 4, 2022. The company is expected to report EPS of $1.84, up 26.03% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12 billion, up 8.46% from the year-ago period.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 1.21% lower. Bristol Myers Squibb is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 8.15. This represents a discount compared to its industry's average Forward P/E of 16.67.
It is also worth noting that BMY currently has a PEG ratio of 1.06. 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 was holding an average PEG ratio of 1.06 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 157, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bristol Myers Squibb (BMY) Gains But Lags Market: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed at $64.91 in the latest trading session, marking a +1.64% move from the prior day. This move lagged the S&P 500's daily gain of 2.44%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 0.28%.
Coming into today, shares of the biopharmaceutical company had gained 2.14% in the past month. In that same time, the Medical sector lost 12.92%, while the S&P 500 lost 9.65%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be February 4, 2022. The company is expected to report EPS of $1.84, up 26.03% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12 billion, up 8.46% from the year-ago period.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 1.21% lower. Bristol Myers Squibb is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 8.15. This represents a discount compared to its industry's average Forward P/E of 16.67.
It is also worth noting that BMY currently has a PEG ratio of 1.06. 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 was holding an average PEG ratio of 1.06 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 157, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.