We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bristol Myers Squibb (BMY) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
Bristol Myers Squibb (BMY - Free Report) closed at $49.57 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's 0.22% gain on the day. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Shares of the biopharmaceutical company have depreciated by 4.17% over the course of the past month, underperforming the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61%.
The upcoming earnings release of Bristol Myers Squibb will be of great interest to investors. The company's earnings report is expected on February 2, 2024. The company is expected to report EPS of $1.69, down 7.14% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $11.13 billion, indicating a 2.41% decrease compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.29% lower within the past month. Currently, Bristol Myers Squibb is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 6.93. This expresses a discount compared to the average Forward P/E of 22.43 of its industry.
One should further note that BMY currently holds a PEG ratio of 1.39. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.8.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bristol Myers Squibb (BMY) Stock Drops Despite Market Gains: Important Facts to Note
Bristol Myers Squibb (BMY - Free Report) closed at $49.57 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's 0.22% gain on the day. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Shares of the biopharmaceutical company have depreciated by 4.17% over the course of the past month, underperforming the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61%.
The upcoming earnings release of Bristol Myers Squibb will be of great interest to investors. The company's earnings report is expected on February 2, 2024. The company is expected to report EPS of $1.69, down 7.14% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $11.13 billion, indicating a 2.41% decrease compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.29% lower within the past month. Currently, Bristol Myers Squibb is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 6.93. This expresses a discount compared to the average Forward P/E of 22.43 of its industry.
One should further note that BMY currently holds a PEG ratio of 1.39. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.8.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.