Bristol-Myers Squibb (BMY - Free Report) closed at $47.99 in the latest trading session, marking a -0.87% move from the prior day. This change lagged the S&P 500's daily gain of 0.97%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.08%.
Coming into today, shares of the biopharmaceutical company had lost 7.93% in the past month. In that same time, the Medical sector lost 4.78%, while the S&P 500 lost 3.04%.
Wall Street will be looking for positivity from BMY as it approaches its next earnings report date. This is expected to be January 24, 2019. On that day, BMY is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 23.53%. Meanwhile, our latest consensus estimate is calling for revenue of $5.99 billion, up 9.85% from the prior-year quarter.
Any recent changes to analyst estimates for BMY should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% higher. BMY is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BMY is holding a Forward P/E ratio of 11.63. Its industry sports an average Forward P/E of 14.4, so we one might conclude that BMY is trading at a discount comparatively.
Meanwhile, BMY's PEG ratio is currently 1.3. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. BMY's industry had an average PEG ratio of 1.86 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.