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Bristol Myers Squibb (BMY) Outpaces Stock Market Gains: What You Should Know
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The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $57.17, denoting a +1.24% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 1.06%. Meanwhile, the Dow experienced a rise of 0.93%, and the technology-dominated Nasdaq saw an increase of 1.2%.
Coming into today, shares of the biopharmaceutical company had lost 4.34% in the past month. In that same time, the Medical sector lost 3.74%, while the S&P 500 lost 3%.
The investment community will be closely monitoring the performance of Bristol Myers Squibb in its forthcoming earnings report. The company is scheduled to release its earnings on October 26, 2023. The company is expected to report EPS of $1.76, down 11.56% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $10.94 billion, indicating a 2.48% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.38 per share and a revenue of $44.7 billion, representing changes of -4.16% and -3.16%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.39% decrease. As of now, Bristol Myers Squibb holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 7.65. This expresses a discount compared to the average Forward P/E of 17.01 of its industry.
We can additionally observe that BMY currently boasts a PEG ratio of 1.51. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.94 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% 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) Outpaces Stock Market Gains: What You Should Know
The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $57.17, denoting a +1.24% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 1.06%. Meanwhile, the Dow experienced a rise of 0.93%, and the technology-dominated Nasdaq saw an increase of 1.2%.
Coming into today, shares of the biopharmaceutical company had lost 4.34% in the past month. In that same time, the Medical sector lost 3.74%, while the S&P 500 lost 3%.
The investment community will be closely monitoring the performance of Bristol Myers Squibb in its forthcoming earnings report. The company is scheduled to release its earnings on October 26, 2023. The company is expected to report EPS of $1.76, down 11.56% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $10.94 billion, indicating a 2.48% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.38 per share and a revenue of $44.7 billion, representing changes of -4.16% and -3.16%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.39% decrease. As of now, Bristol Myers Squibb holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 7.65. This expresses a discount compared to the average Forward P/E of 17.01 of its industry.
We can additionally observe that BMY currently boasts a PEG ratio of 1.51. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.94 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% 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.