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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $60.24, moving -0.94% from the previous trading session. This change lagged the S&P 500's 0.57% loss on the day. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 1.04%.
Coming into today, shares of the biopharmaceutical company had lost 1.31% in the past month. In that same time, the Medical sector lost 0.85%, while the S&P 500 gained 0.64%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be October 26, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.84 per share, which would represent a year-over-year decline of 7.54%. Our most recent consensus estimate is calling for quarterly revenue of $10.96 billion, down 2.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.54 per share and revenue of $44.93 billion, which would represent changes of -2.08% and -2.67%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% higher. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 8.07. For comparison, its industry has an average Forward P/E of 17.77, which means Bristol Myers Squibb is trading at a discount to the group.
Investors should also note that BMY has a PEG ratio of 1.6 right now. 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 industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $60.24, moving -0.94% from the previous trading session. This change lagged the S&P 500's 0.57% loss on the day. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 1.04%.
Coming into today, shares of the biopharmaceutical company had lost 1.31% in the past month. In that same time, the Medical sector lost 0.85%, while the S&P 500 gained 0.64%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be October 26, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.84 per share, which would represent a year-over-year decline of 7.54%. Our most recent consensus estimate is calling for quarterly revenue of $10.96 billion, down 2.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.54 per share and revenue of $44.93 billion, which would represent changes of -2.08% and -2.67%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% higher. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 8.07. For comparison, its industry has an average Forward P/E of 17.77, which means Bristol Myers Squibb is trading at a discount to the group.
Investors should also note that BMY has a PEG ratio of 1.6 right now. 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 industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.