In the latest trading session, Bristol Myers Squibb (
BMY Quick Quote BMY - Free Report) closed at $65.16, marking a -0.49% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq lost 4.19%.
Prior to today's trading, shares of the biopharmaceutical company had lost 3.71% over the past month. This has lagged the Medical sector's loss of 2.31% and the S&P 500's gain of 3.78% in that time.
Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect Bristol Myers Squibb to post earnings of $2.03 per share. This would mark year-over-year growth of 5.18%. Meanwhile, our latest consensus estimate is calling for revenue of $11.86 billion, down 0.19% from the prior-year quarter.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $8.06 per share and revenue of $46.56 billion. These results would represent year-over-year changes of +4.68% and +0.87%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 0.14% higher within the past month. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 8.13 right now. Its industry sports an average Forward P/E of 19.67, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
We can also see that BMY currently has a PEG ratio of 1.34. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.84 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.