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Bristol Myers Squibb (BMY) Dips More Than Broader Market: What You Should Know
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The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $52.30, denoting a -0.87% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.8%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Coming into today, shares of the biopharmaceutical company had gained 5.04% in the past month. In that same time, the Medical sector gained 5.8%, while the S&P 500 gained 3.4%.
Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 2, 2024. The company is forecasted to report an EPS of $1.73, showcasing a 4.95% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.14 billion, down 2.31% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Bristol Myers Squibb currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 7.21. This indicates a discount in contrast to its industry's Forward P/E of 22.58.
Also, we should mention that BMY has a PEG ratio of 2.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. BMY's industry had an average PEG ratio of 1.9 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 78, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Bristol Myers Squibb (BMY) Dips More Than Broader Market: What You Should Know
The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $52.30, denoting a -0.87% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.8%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Coming into today, shares of the biopharmaceutical company had gained 5.04% in the past month. In that same time, the Medical sector gained 5.8%, while the S&P 500 gained 3.4%.
Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 2, 2024. The company is forecasted to report an EPS of $1.73, showcasing a 4.95% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.14 billion, down 2.31% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Bristol Myers Squibb currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 7.21. This indicates a discount in contrast to its industry's Forward P/E of 22.58.
Also, we should mention that BMY has a PEG ratio of 2.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. BMY's industry had an average PEG ratio of 1.9 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 78, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.