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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 $70.69 in the latest trading session, marking a +0.68% move from the prior day. This change lagged the S&P 500's 1.33% gain on the day. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Coming into today, shares of the biopharmaceutical company had gained 4.05% in the past month. In that same time, the Medical sector gained 7.14%, while the S&P 500 gained 6.11%.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be April 27, 2023. The company is expected to report EPS of $2.01, up 2.55% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.64 billion, down 0.09% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $8.07 per share and revenue of $47 billion. These results would represent year-over-year changes of +4.81% and +1.83%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb 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 0.05% higher. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 8.7 right now. Its industry sports an average Forward P/E of 21.37, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
Also, we should mention that BMY has a PEG ratio of 1.53. 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 was holding an average PEG ratio of 2.01 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% 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.
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 $70.69 in the latest trading session, marking a +0.68% move from the prior day. This change lagged the S&P 500's 1.33% gain on the day. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Coming into today, shares of the biopharmaceutical company had gained 4.05% in the past month. In that same time, the Medical sector gained 7.14%, while the S&P 500 gained 6.11%.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be April 27, 2023. The company is expected to report EPS of $2.01, up 2.55% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.64 billion, down 0.09% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $8.07 per share and revenue of $47 billion. These results would represent year-over-year changes of +4.81% and +1.83%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb 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 0.05% higher. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 8.7 right now. Its industry sports an average Forward P/E of 21.37, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
Also, we should mention that BMY has a PEG ratio of 1.53. 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 was holding an average PEG ratio of 2.01 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.