Bristol-Myers Squibb (BMY) closed at $59.06 in the latest trading session, marking a -0.87% move from the prior day. This move was narrower than the S&P 500's daily loss of 3.17%. Elsewhere, the Dow lost 3.77%, while the tech-heavy Nasdaq lost 2.28%.
Coming into today, shares of the biopharmaceutical company had lost 6.63% in the past month. In that same time, the Medical sector lost 6.35%, while the S&P 500 lost 8.05%.
Investors will be hoping for strength from BMY as it approaches its next earnings release. On that day, BMY is projected to report earnings of $1.47 per share, which would represent year-over-year growth of 33.64%. Our most recent consensus estimate is calling for quarterly revenue of $9.97 billion, up 68.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.13 per share and revenue of $41.78 billion. These totals would mark changes of +30.7% and +59.81%, respectively, from last year.
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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 1.3% higher. BMY is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BMY is holding a Forward P/E ratio of 9.71. For comparison, its industry has an average Forward P/E of 14.41, which means BMY is trading at a discount to the group.
We can also see that BMY currently has a PEG ratio of 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BMY's industry had an average PEG ratio of 1.91 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% of all 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.