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) Rises But Trails Market: What Investors Should Know
Read MoreHide Full Article
Bristol Myers Squibb (BMY - Free Report) closed at $51.26 in the latest trading session, marking a +0.59% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.03%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.26%.
Coming into today, shares of the biopharmaceutical company had gained 3.12% in the past month. In that same time, the Medical sector gained 3.29%, while the S&P 500 gained 3.01%.
The investment community will be closely monitoring the performance of Bristol Myers Squibb in its forthcoming earnings report. The company is scheduled to release its earnings on February 2, 2024. The company's earnings per share (EPS) are projected to be $1.76, reflecting a 3.3% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $11.15 billion, reflecting a 2.26% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.51 per share and revenue of $44.68 billion. These totals would mark changes of -2.47% and -3.21%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% lower. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 6.79 right now. This valuation marks a discount compared to its industry's average Forward P/E of 17.42.
It's also important to note that BMY currently trades at a PEG ratio of 2.17. 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. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.84 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
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) Rises But Trails Market: What Investors Should Know
Bristol Myers Squibb (BMY - Free Report) closed at $51.26 in the latest trading session, marking a +0.59% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.03%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.26%.
Coming into today, shares of the biopharmaceutical company had gained 3.12% in the past month. In that same time, the Medical sector gained 3.29%, while the S&P 500 gained 3.01%.
The investment community will be closely monitoring the performance of Bristol Myers Squibb in its forthcoming earnings report. The company is scheduled to release its earnings on February 2, 2024. The company's earnings per share (EPS) are projected to be $1.76, reflecting a 3.3% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $11.15 billion, reflecting a 2.26% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.51 per share and revenue of $44.68 billion. These totals would mark changes of -2.47% and -3.21%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% lower. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 6.79 right now. This valuation marks a discount compared to its industry's average Forward P/E of 17.42.
It's also important to note that BMY currently trades at a PEG ratio of 2.17. 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. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.84 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.