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Bristol Myers Squibb (BMY) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest market close, Bristol Myers Squibb (BMY - Free Report) reached $51.47, with a -0.75% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.27%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.19%.
The the stock of biopharmaceutical company has risen by 0.56% in the past month, lagging the Medical sector's gain of 7.01% and the S&P 500's gain of 6.94%.
Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company is forecasted to report an EPS of $1.76, showcasing a 3.3% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $11.15 billion, indicating a 2.24% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.53 per share and a revenue of $44.68 billion, demonstrating changes of -2.21% and -3.21%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.06% fall in the Zacks Consensus EPS estimate. Bristol Myers Squibb presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 6.89. Its industry sports an average Forward P/E of 17.45, so one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
Also, we should mention that BMY has a PEG ratio of 2.2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.89.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Bristol Myers Squibb (BMY) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest market close, Bristol Myers Squibb (BMY - Free Report) reached $51.47, with a -0.75% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.27%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.19%.
The the stock of biopharmaceutical company has risen by 0.56% in the past month, lagging the Medical sector's gain of 7.01% and the S&P 500's gain of 6.94%.
Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company is forecasted to report an EPS of $1.76, showcasing a 3.3% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $11.15 billion, indicating a 2.24% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.53 per share and a revenue of $44.68 billion, demonstrating changes of -2.21% and -3.21%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.06% fall in the Zacks Consensus EPS estimate. Bristol Myers Squibb presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 6.89. Its industry sports an average Forward P/E of 17.45, so one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
Also, we should mention that BMY has a PEG ratio of 2.2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.89.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.