We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $69.86, marking a -0.53% move from the previous day. This change lagged the S&P 500's daily loss of 0.01%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.97%.
Prior to today's trading, shares of the biopharmaceutical company had gained 4.03% over the past month. This has lagged the Medical sector's gain of 5.81% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.95 per share, which would represent a year-over-year decline of 0.51%. Our most recent consensus estimate is calling for quarterly revenue of $11.62 billion, down 0.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.98 per share and revenue of $46.94 billion. These totals would mark changes of +3.64% and +1.68%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.07% lower. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 8.8. This represents a discount compared to its industry's average Forward P/E of 20.91.
Investors should also note that BMY has a PEG ratio of 1.54 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.98 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 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $69.86, marking a -0.53% move from the previous day. This change lagged the S&P 500's daily loss of 0.01%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.97%.
Prior to today's trading, shares of the biopharmaceutical company had gained 4.03% over the past month. This has lagged the Medical sector's gain of 5.81% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.95 per share, which would represent a year-over-year decline of 0.51%. Our most recent consensus estimate is calling for quarterly revenue of $11.62 billion, down 0.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.98 per share and revenue of $46.94 billion. These totals would mark changes of +3.64% and +1.68%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.07% lower. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 8.8. This represents a discount compared to its industry's average Forward P/E of 20.91.
Investors should also note that BMY has a PEG ratio of 1.54 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.98 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 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.