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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $62.65, marking a -1.25% move from the previous day. This move lagged the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Coming into today, shares of the biopharmaceutical company had lost 2.86% in the past month. In that same time, the Medical sector lost 1.06%, while the S&P 500 gained 3.1%.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be July 27, 2023. The company is expected to report EPS of $2.04, up 5.7% from the prior-year quarter. 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 $8.07 per share and revenue of $46.56 billion. These results would represent year-over-year changes of +4.81% and +0.87%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.17% higher. 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 7.86. For comparison, its industry has an average Forward P/E of 18.56, which means Bristol Myers Squibb is trading at a discount to the group.
We can also see that BMY currently has a PEG ratio of 1.3. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.81 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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $62.65, marking a -1.25% move from the previous day. This move lagged the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Coming into today, shares of the biopharmaceutical company had lost 2.86% in the past month. In that same time, the Medical sector lost 1.06%, while the S&P 500 gained 3.1%.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be July 27, 2023. The company is expected to report EPS of $2.04, up 5.7% from the prior-year quarter. 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 $8.07 per share and revenue of $46.56 billion. These results would represent year-over-year changes of +4.81% and +0.87%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.17% higher. 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 7.86. For comparison, its industry has an average Forward P/E of 18.56, which means Bristol Myers Squibb is trading at a discount to the group.
We can also see that BMY currently has a PEG ratio of 1.3. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.81 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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.