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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) ended the recent trading session at $51.59, demonstrating a -0.56% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
The biopharmaceutical company's shares have seen an increase of 1.91% over the last month, surpassing the Medical sector's gain of 0.88% and falling behind the S&P 500's gain of 5.11%.
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 April 25, 2024. The company is predicted to post an EPS of $1.53, indicating a 25.37% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $11.46 billion, indicating a 1.11% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.61 per share and revenue of $46.11 billion, indicating changes of -11.98% and +2.45%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.02% rise in the Zacks Consensus EPS estimate. As of now, Bristol Myers Squibb holds a Zacks Rank of #4 (Sell).
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 7.85. This indicates a discount in contrast to its industry's Forward P/E of 24.51.
We can also see that BMY currently has a PEG ratio of 1.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BMY's industry had an average PEG ratio of 1.57 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 32% echelons 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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Bristol Myers Squibb (BMY) Stock Declines While Market Improves: Some Information for Investors
Bristol Myers Squibb (BMY - Free Report) ended the recent trading session at $51.59, demonstrating a -0.56% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
The biopharmaceutical company's shares have seen an increase of 1.91% over the last month, surpassing the Medical sector's gain of 0.88% and falling behind the S&P 500's gain of 5.11%.
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 April 25, 2024. The company is predicted to post an EPS of $1.53, indicating a 25.37% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $11.46 billion, indicating a 1.11% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.61 per share and revenue of $46.11 billion, indicating changes of -11.98% and +2.45%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.02% rise in the Zacks Consensus EPS estimate. As of now, Bristol Myers Squibb holds a Zacks Rank of #4 (Sell).
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 7.85. This indicates a discount in contrast to its industry's Forward P/E of 24.51.
We can also see that BMY currently has a PEG ratio of 1.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BMY's industry had an average PEG ratio of 1.57 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 32% echelons 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.