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Bristol Myers Squibb (BMY) Outpaces Stock Market Gains: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $69.69, moving +0.55% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 0.62%.
Prior to today's trading, shares of the biopharmaceutical company had gained 0.01% over the past month. This has lagged the Medical sector's gain of 3.28% and the S&P 500's gain of 3.71% in that time.
Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.71 per share, which would represent a year-over-year decline of 12.76%. Our most recent consensus estimate is calling for quarterly revenue of $11.64 billion, down 0.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.06 per share and revenue of $47.01 billion. These totals would mark changes of +4.68% and +1.84%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.18% lower. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Bristol Myers Squibb is currently trading at a Forward P/E ratio of 8.6. This valuation marks a discount compared to its industry's average Forward P/E of 20.54.
Investors should also note that BMY has a PEG ratio of 1.51 right now. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.95 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bristol Myers Squibb (BMY) Outpaces Stock Market Gains: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $69.69, moving +0.55% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 0.62%.
Prior to today's trading, shares of the biopharmaceutical company had gained 0.01% over the past month. This has lagged the Medical sector's gain of 3.28% and the S&P 500's gain of 3.71% in that time.
Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.71 per share, which would represent a year-over-year decline of 12.76%. Our most recent consensus estimate is calling for quarterly revenue of $11.64 billion, down 0.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.06 per share and revenue of $47.01 billion. These totals would mark changes of +4.68% and +1.84%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.18% lower. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Bristol Myers Squibb is currently trading at a Forward P/E ratio of 8.6. This valuation marks a discount compared to its industry's average Forward P/E of 20.54.
Investors should also note that BMY has a PEG ratio of 1.51 right now. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.95 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.