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Bristol Myers Squibb (BMY) Stock Sinks As Market Gains: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) closed at $57.85 in the latest trading session, marking a -0.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.01%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.67%.
Prior to today's trading, shares of the biopharmaceutical company had lost 6.42% over the past month. This has lagged the Medical sector's loss of 4.56% and the S&P 500's loss of 4.45% in that time.
Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.82 per share, which would represent a year-over-year decline of 8.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.96 billion, down 2.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.43 per share and revenue of $44.71 billion. These totals would mark changes of -3.51% and -3.14%, respectively, from last year.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.85% lower. 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 7.81. For comparison, its industry has an average Forward P/E of 16.85, which means Bristol Myers Squibb is trading at a discount to the group.
It is also worth noting that BMY currently has a PEG ratio of 1.55. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BMY's industry had an average PEG ratio of 2.1 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 89, putting it in the top 36% 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.
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
Bristol Myers Squibb (BMY - Free Report) closed at $57.85 in the latest trading session, marking a -0.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.01%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.67%.
Prior to today's trading, shares of the biopharmaceutical company had lost 6.42% over the past month. This has lagged the Medical sector's loss of 4.56% and the S&P 500's loss of 4.45% in that time.
Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.82 per share, which would represent a year-over-year decline of 8.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.96 billion, down 2.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.43 per share and revenue of $44.71 billion. These totals would mark changes of -3.51% and -3.14%, respectively, from last year.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.85% lower. 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 7.81. For comparison, its industry has an average Forward P/E of 16.85, which means Bristol Myers Squibb is trading at a discount to the group.
It is also worth noting that BMY currently has a PEG ratio of 1.55. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BMY's industry had an average PEG ratio of 2.1 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 89, putting it in the top 36% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.