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Bristol Myers Squibb (BMY) Stock Declines While Market Improves: Some Information for Investors
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Bristol Myers Squibb (BMY - Free Report) closed the latest trading day at $56.61, indicating a -0.09% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Shares of the biopharmaceutical company have depreciated by 6.84% over the course of the past month, underperforming the Medical sector's loss of 1.62% and the S&P 500's loss of 3.39%.
Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company's earnings per share (EPS) are projected to be $1.79, reflecting a 10.05% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $10.96 billion, indicating a 2.34% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $7.42 per share and a revenue of $44.74 billion, demonstrating changes of -3.64% and -3.08%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.99% lower within the past month. Bristol Myers Squibb presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Bristol Myers Squibb is presently trading at a Forward P/E ratio of 7.64. For comparison, its industry has an average Forward P/E of 17.38, which means Bristol Myers Squibb is trading at a discount to the group.
It's also important to note that BMY currently trades at a PEG ratio of 1.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 2.13.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Bristol Myers Squibb (BMY) Stock Declines While Market Improves: Some Information for Investors
Bristol Myers Squibb (BMY - Free Report) closed the latest trading day at $56.61, indicating a -0.09% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Shares of the biopharmaceutical company have depreciated by 6.84% over the course of the past month, underperforming the Medical sector's loss of 1.62% and the S&P 500's loss of 3.39%.
Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company's earnings per share (EPS) are projected to be $1.79, reflecting a 10.05% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $10.96 billion, indicating a 2.34% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $7.42 per share and a revenue of $44.74 billion, demonstrating changes of -3.64% and -3.08%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.99% lower within the past month. Bristol Myers Squibb presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Bristol Myers Squibb is presently trading at a Forward P/E ratio of 7.64. For comparison, its industry has an average Forward P/E of 17.38, which means Bristol Myers Squibb is trading at a discount to the group.
It's also important to note that BMY currently trades at a PEG ratio of 1.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 2.13.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.