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Bristol Myers Squibb (BMY) Dips More Than Broader Market: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $53.18, moving -0.36% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.02%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.04%.
Shares of the biopharmaceutical company witnessed a gain of 7.3% over the previous month, beating the performance of the Medical sector with its loss of 4.19% and the S&P 500's gain of 3.77%.
Analysts and investors alike will be keeping a close eye on the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2024. The company is forecasted to report an EPS of $1.52, showcasing a 24% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.29 billion, up 2.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.75 per share and a revenue of $46.8 billion, signifying shifts of -90.01% and +3.99%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.39% downward. Right now, Bristol Myers Squibb possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Bristol Myers Squibb is presently being traded at a Forward P/E ratio of 71.58. This represents a premium compared to its industry's average Forward P/E of 22.83.
Also, we should mention that BMY has a PEG ratio of 14.32. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Biomedical and Genetics was holding an average PEG ratio of 2.29 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
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) Dips More Than Broader Market: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $53.18, moving -0.36% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.02%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.04%.
Shares of the biopharmaceutical company witnessed a gain of 7.3% over the previous month, beating the performance of the Medical sector with its loss of 4.19% and the S&P 500's gain of 3.77%.
Analysts and investors alike will be keeping a close eye on the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2024. The company is forecasted to report an EPS of $1.52, showcasing a 24% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.29 billion, up 2.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.75 per share and a revenue of $46.8 billion, signifying shifts of -90.01% and +3.99%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.39% downward. Right now, Bristol Myers Squibb possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Bristol Myers Squibb is presently being traded at a Forward P/E ratio of 71.58. This represents a premium compared to its industry's average Forward P/E of 22.83.
Also, we should mention that BMY has a PEG ratio of 14.32. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Biomedical and Genetics was holding an average PEG ratio of 2.29 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.