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Bristol Myers Squibb (BMY) Increases Yet Falls Behind Market: What Investors Need to Know
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The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $49.87, denoting a +0.34% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.76%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 1.12%.
Coming into today, shares of the biopharmaceutical company had lost 3.14% in the past month. In that same time, the Medical sector gained 1.57%, while the S&P 500 gained 2.5%.
The investment community will be paying close attention to the earnings performance of Bristol Myers Squibb in its upcoming release. The company is slated to reveal its earnings on February 2, 2024. The company's upcoming EPS is projected at $1.60, signifying a 12.09% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $11.13 billion, showing a 2.42% drop compared to the year-ago quarter.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.95% lower. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 6.94. This signifies a discount in comparison to the average Forward P/E of 22.01 for its industry.
It's also important to note that BMY currently trades at a PEG ratio of 1.39. 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. BMY's industry had an average PEG ratio of 1.83 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Bristol Myers Squibb (BMY) Increases Yet Falls Behind Market: What Investors Need to Know
The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $49.87, denoting a +0.34% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.76%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 1.12%.
Coming into today, shares of the biopharmaceutical company had lost 3.14% in the past month. In that same time, the Medical sector gained 1.57%, while the S&P 500 gained 2.5%.
The investment community will be paying close attention to the earnings performance of Bristol Myers Squibb in its upcoming release. The company is slated to reveal its earnings on February 2, 2024. The company's upcoming EPS is projected at $1.60, signifying a 12.09% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $11.13 billion, showing a 2.42% drop compared to the year-ago quarter.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.95% lower. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 6.94. This signifies a discount in comparison to the average Forward P/E of 22.01 for its industry.
It's also important to note that BMY currently trades at a PEG ratio of 1.39. 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. BMY's industry had an average PEG ratio of 1.83 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.