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Bristol Myers Squibb (BMY) Outpaces Stock Market Gains: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed at $69.38 in the latest trading session, marking a +0.9% move from the prior day. This change outpaced the S&P 500's 0.66% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the biopharmaceutical company had lost 8.15% in the past month. In that same time, the Medical sector lost 4.7%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be October 26, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.85 per share. This would mark a year-over-year decline of 7.5%. Meanwhile, our latest consensus estimate is calling for revenue of $11.11 billion, down 4.43% from the prior-year quarter.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.51 per share and revenue of $45.95 billion. These results would represent year-over-year changes of 0% and -0.95%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.16. For comparison, its industry has an average Forward P/E of 20.12, 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 1.46. 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. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.39 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 73, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bristol Myers Squibb (BMY) Outpaces Stock Market Gains: What You Should Know
Bristol Myers Squibb (BMY - Free Report) closed at $69.38 in the latest trading session, marking a +0.9% move from the prior day. This change outpaced the S&P 500's 0.66% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the biopharmaceutical company had lost 8.15% in the past month. In that same time, the Medical sector lost 4.7%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be October 26, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.85 per share. This would mark a year-over-year decline of 7.5%. Meanwhile, our latest consensus estimate is calling for revenue of $11.11 billion, down 4.43% from the prior-year quarter.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.51 per share and revenue of $45.95 billion. These results would represent year-over-year changes of 0% and -0.95%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.16. For comparison, its industry has an average Forward P/E of 20.12, 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 1.46. 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. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.39 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 73, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.