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Here's Why Bristol Myers Squibb (BMY) Fell More Than Broader Market
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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $51.28, marking a -0.98% move from the previous day. This change lagged the S&P 500's 0.15% loss on the day. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq increased by 0.09%.
The the stock of biopharmaceutical company has risen by 1.37% in the past month, lagging the Medical sector's gain of 6.58% and the S&P 500's gain of 3.5%.
The upcoming earnings release of Bristol Myers Squibb will be of great interest to investors. The company's earnings report is expected on February 2, 2024. The company is expected to report EPS of $1.73, down 4.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.14 billion, down 2.31% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.63% lower within the past month. Bristol Myers Squibb is currently a Zacks Rank #4 (Sell).
In terms of valuation, Bristol Myers Squibb is presently being traded at a Forward P/E ratio of 7.06. This denotes a discount relative to the industry's average Forward P/E of 23.03.
Meanwhile, BMY's PEG ratio is currently 1.41. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.93 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why Bristol Myers Squibb (BMY) Fell More Than Broader Market
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $51.28, marking a -0.98% move from the previous day. This change lagged the S&P 500's 0.15% loss on the day. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq increased by 0.09%.
The the stock of biopharmaceutical company has risen by 1.37% in the past month, lagging the Medical sector's gain of 6.58% and the S&P 500's gain of 3.5%.
The upcoming earnings release of Bristol Myers Squibb will be of great interest to investors. The company's earnings report is expected on February 2, 2024. The company is expected to report EPS of $1.73, down 4.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.14 billion, down 2.31% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.63% lower within the past month. Bristol Myers Squibb is currently a Zacks Rank #4 (Sell).
In terms of valuation, Bristol Myers Squibb is presently being traded at a Forward P/E ratio of 7.06. This denotes a discount relative to the industry's average Forward P/E of 23.03.
Meanwhile, BMY's PEG ratio is currently 1.41. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.93 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.