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Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know

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Bristol Myers Squibb (BMY - Free Report) closed at $72.31 in the latest trading session, marking a -0.28% move from the prior day. This change lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, added 1.39%.

Coming into today, shares of the biopharmaceutical company had lost 0.89% in the past month. In that same time, the Medical sector gained 1.12%, while the S&P 500 gained 4.01%.

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 $1.72 per share, which would represent a year-over-year decline of 6.01%. Our most recent consensus estimate is calling for quarterly revenue of $11.13 billion, down 7.16% from the year-ago period.

Investors should also note any 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.17% lower within the past month. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).

Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.2. Its industry sports an average Forward P/E of 20.94, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.

We can also see that BMY currently has a PEG ratio of 1.62. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.62 based on yesterday's closing prices.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% 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.

To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.


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