Bristol-Myers Squibb (BMY) closed at $60.50 in the latest trading session, marking a -1.59% move from the prior day. This change was narrower than the S&P 500's 3.39% loss on the day. At the same time, the Dow lost 3.58%, and the tech-heavy Nasdaq lost 3.1%.
Prior to today's trading, shares of the biopharmaceutical company had lost 6.27% over the past month. This has lagged the Medical sector's loss of 1.65% and the S&P 500's loss of 4.8% in that time.
Investors will be hoping for strength from BMY as it approaches its next earnings release. The company is expected to report EPS of $1.47, up 33.64% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.97 billion, up 68.33% from the prior-year quarter.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $6.13 per share and revenue of $41.78 billion. These results would represent year-over-year changes of +30.7% and +59.81%, respectively.
Investors should also note any recent changes to analyst estimates for BMY. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.3% higher within the past month. BMY is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, BMY currently has a Forward P/E ratio of 10.02. Its industry sports an average Forward P/E of 14.9, so we one might conclude that BMY is trading at a discount comparatively.
It is also worth noting that BMY currently has a PEG ratio of 1.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.