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Bristol Myers Squibb (BMY) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $62.84, marking a -1.19% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.14%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 1.69%.
The stock of biopharmaceutical company has fallen by 5.93% in the past month, lagging the Medical sector's loss of 0.26% and the S&P 500's loss of 2.85%.
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 $1.68, indicating a 3.07% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $12.46 billion, indicating a 1.94% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.86 per share and a revenue of $49.82 billion, representing changes of +11.54% and +3.37%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.01% rise in the Zacks Consensus EPS estimate. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 9.29 right now. Its industry sports an average Forward P/E of 23.24, so one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
Also, we should mention that BMY has a PEG ratio of 0.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.91.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 165, positioning it in the bottom 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
View the Zacks #1 Rank List
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Bristol Myers Squibb (BMY) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $62.84, marking a -1.19% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.14%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 1.69%.
The stock of biopharmaceutical company has fallen by 5.93% in the past month, lagging the Medical sector's loss of 0.26% and the S&P 500's loss of 2.85%.
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 $1.68, indicating a 3.07% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $12.46 billion, indicating a 1.94% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.86 per share and a revenue of $49.82 billion, representing changes of +11.54% and +3.37%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.01% rise in the Zacks Consensus EPS estimate. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 9.29 right now. Its industry sports an average Forward P/E of 23.24, so one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
Also, we should mention that BMY has a PEG ratio of 0.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.91.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 165, positioning it in the bottom 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.