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Bristol Myers Squibb (BMY) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $49, marking a +1.22% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.09%.
The the stock of biopharmaceutical company has risen by 4.22% in the past month, leading the Medical sector's gain of 2.17% and undershooting the S&P 500's gain of 7.21%.
Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company is predicted to post an EPS of $1.67, indicating a 19.32% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $11.32 billion, reflecting a 7.19% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.85 per share and a revenue of $46.31 billion, signifying shifts of +495.65% and -4.11%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, there's been a 0.57% fall in the Zacks Consensus EPS estimate. Right now, Bristol Myers Squibb possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Bristol Myers Squibb is presently trading at a Forward P/E ratio of 7.06. Its industry sports an average Forward P/E of 19.71, so one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
It is also worth noting that BMY currently has a PEG ratio of 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. BMY's industry had an average PEG ratio of 1.43 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Bristol Myers Squibb (BMY) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $49, marking a +1.22% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.09%.
The the stock of biopharmaceutical company has risen by 4.22% in the past month, leading the Medical sector's gain of 2.17% and undershooting the S&P 500's gain of 7.21%.
Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company is predicted to post an EPS of $1.67, indicating a 19.32% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $11.32 billion, reflecting a 7.19% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.85 per share and a revenue of $46.31 billion, signifying shifts of +495.65% and -4.11%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, there's been a 0.57% fall in the Zacks Consensus EPS estimate. Right now, Bristol Myers Squibb possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Bristol Myers Squibb is presently trading at a Forward P/E ratio of 7.06. Its industry sports an average Forward P/E of 19.71, so one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
It is also worth noting that BMY currently has a PEG ratio of 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. BMY's industry had an average PEG ratio of 1.43 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.