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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 $75.14, marking a -1.42% move from the previous day. This move lagged the S&P 500's daily gain of 1.5%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Coming into today, shares of the biopharmaceutical company had gained 0.05% in the past month. In that same time, the Medical sector lost 0.3%, while the S&P 500 lost 6.54%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be July 27, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.91 per share. This would mark a year-over-year decline of 1.04%. Our most recent consensus estimate is calling for quarterly revenue of $11.53 billion, down 1.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.58 per share and revenue of $46.36 billion, which would represent changes of +0.93% and -0.06%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 0.44% higher within the past month. Bristol Myers Squibb currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 10.05. For comparison, its industry has an average Forward P/E of 22.2, which means Bristol Myers Squibb is trading at a discount to the group.
We can also see that BMY currently has a PEG ratio of 1.61. 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. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.14 at yesterday's closing price.
The Medical - Biomedical and Genetics 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 gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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 $75.14, marking a -1.42% move from the previous day. This move lagged the S&P 500's daily gain of 1.5%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Coming into today, shares of the biopharmaceutical company had gained 0.05% in the past month. In that same time, the Medical sector lost 0.3%, while the S&P 500 lost 6.54%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be July 27, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.91 per share. This would mark a year-over-year decline of 1.04%. Our most recent consensus estimate is calling for quarterly revenue of $11.53 billion, down 1.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.58 per share and revenue of $46.36 billion, which would represent changes of +0.93% and -0.06%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 0.44% higher within the past month. Bristol Myers Squibb currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 10.05. For comparison, its industry has an average Forward P/E of 22.2, which means Bristol Myers Squibb is trading at a discount to the group.
We can also see that BMY currently has a PEG ratio of 1.61. 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. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.14 at yesterday's closing price.
The Medical - Biomedical and Genetics 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 gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.