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Bristol Myers Squibb (BMY) Gains As Market Dips: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed at $73.72 in the latest trading session, marking a +0.67% move from the prior day. This move outpaced the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the biopharmaceutical company had gained 6.7% in the past month. In that same time, the Medical sector gained 5.54%, while the S&P 500 gained 6.02%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be April 29, 2022. The company is expected to report EPS of $1.93, up 10.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.33 billion, up 2.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.80 per share and revenue of $46.89 billion, which would represent changes of +3.86% and +1.08%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.39. This valuation marks a discount compared to its industry's average Forward P/E of 23.11.
Meanwhile, BMY's PEG ratio is currently 1.39. 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 1.21 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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Bristol Myers Squibb (BMY) Gains As Market Dips: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed at $73.72 in the latest trading session, marking a +0.67% move from the prior day. This move outpaced the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the biopharmaceutical company had gained 6.7% in the past month. In that same time, the Medical sector gained 5.54%, while the S&P 500 gained 6.02%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be April 29, 2022. The company is expected to report EPS of $1.93, up 10.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.33 billion, up 2.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.80 per share and revenue of $46.89 billion, which would represent changes of +3.86% and +1.08%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.39. This valuation marks a discount compared to its industry's average Forward P/E of 23.11.
Meanwhile, BMY's PEG ratio is currently 1.39. 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 1.21 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.