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Bristol Myers Squibb (BMY) Gains As Market Dips: What You Should Know
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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $72.26, marking a +0.43% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Prior to today's trading, shares of the biopharmaceutical company had lost 10.84% over the past month. This has lagged the Medical sector's loss of 2.63% and the S&P 500's loss of 5.57% in that time.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be February 2, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.74 per share, which would represent a year-over-year decline of 4.92%. Our most recent consensus estimate is calling for quarterly revenue of $11.13 billion, down 7.16% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.08% higher. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 9.46 right now. This valuation marks a discount compared to its industry's average Forward P/E of 16.58.
We can also see that BMY currently has a PEG ratio of 1.7. 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 industry currently had an average PEG ratio of 1.27 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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Bristol Myers Squibb (BMY) Gains As Market Dips: What You Should Know
In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $72.26, marking a +0.43% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Prior to today's trading, shares of the biopharmaceutical company had lost 10.84% over the past month. This has lagged the Medical sector's loss of 2.63% and the S&P 500's loss of 5.57% in that time.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be February 2, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.74 per share, which would represent a year-over-year decline of 4.92%. Our most recent consensus estimate is calling for quarterly revenue of $11.13 billion, down 7.16% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.08% higher. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 9.46 right now. This valuation marks a discount compared to its industry's average Forward P/E of 16.58.
We can also see that BMY currently has a PEG ratio of 1.7. 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 industry currently had an average PEG ratio of 1.27 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.