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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $68.48, marking a -1.75% move from the previous day. This move lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the biopharmaceutical company had lost 0.66% over the past month, outpacing the Medical sector's loss of 4.88% and the S&P 500's loss of 8.4% in that time.
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. The company is expected to report EPS of $1.84, down 8% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.1 billion, down 4.49% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.50 per share and revenue of $45.93 billion. These results would represent year-over-year changes of -0.13% and -0.97%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. 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.
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 0.06% lower within the past month. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 9.29. This valuation marks a discount compared to its industry's average Forward P/E of 19.75.
Meanwhile, BMY's PEG ratio is currently 1.48. 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 1.38 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $68.48, marking a -1.75% move from the previous day. This move lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the biopharmaceutical company had lost 0.66% over the past month, outpacing the Medical sector's loss of 4.88% and the S&P 500's loss of 8.4% in that time.
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. The company is expected to report EPS of $1.84, down 8% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.1 billion, down 4.49% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.50 per share and revenue of $45.93 billion. These results would represent year-over-year changes of -0.13% and -0.97%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. 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.
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 0.06% lower within the past month. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 9.29. This valuation marks a discount compared to its industry's average Forward P/E of 19.75.
Meanwhile, BMY's PEG ratio is currently 1.48. 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 1.38 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.