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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 at $70.24 in the latest trading session, marking a -1.69% move from the prior day. This change lagged the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the biopharmaceutical company had gained 3.91% over the past month. This has outpaced the Medical sector's loss of 0.28% and the S&P 500's loss of 3.51% in that time.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be October 26, 2022. On that day, Bristol Myers Squibb is projected to report earnings of $1.84 per share, which would represent a year-over-year decline of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.1 billion, down 4.49% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.50 per share and revenue of $45.93 billion. These results would represent year-over-year changes of -0.13% and -0.97%, respectively.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.53. This valuation marks a discount compared to its industry's average Forward P/E of 20.03.
It is also worth noting that BMY currently has a PEG ratio of 1.52. 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. BMY's industry 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 group has a Zacks Industry Rank of 58, putting it in the top 24% 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) Dips More Than Broader Markets: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed at $70.24 in the latest trading session, marking a -1.69% move from the prior day. This change lagged the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the biopharmaceutical company had gained 3.91% over the past month. This has outpaced the Medical sector's loss of 0.28% and the S&P 500's loss of 3.51% in that time.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be October 26, 2022. On that day, Bristol Myers Squibb is projected to report earnings of $1.84 per share, which would represent a year-over-year decline of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.1 billion, down 4.49% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.50 per share and revenue of $45.93 billion. These results would represent year-over-year changes of -0.13% and -0.97%, respectively.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.53. This valuation marks a discount compared to its industry's average Forward P/E of 20.03.
It is also worth noting that BMY currently has a PEG ratio of 1.52. 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. BMY's industry 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 group has a Zacks Industry Rank of 58, putting it in the top 24% 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.