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Bristol Myers Squibb (BMY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Bristol Myers Squibb (BMY - Free Report) closed at $52.49 in the latest trading session, marking a -0.3% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.29%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the biopharmaceutical company had gained 7.69% in the past month. In that same time, the Medical sector gained 3.72%, while the S&P 500 gained 4.42%.
The investment community will be paying close attention to the earnings performance of Bristol Myers Squibb in its upcoming release. The company is slated to reveal its earnings on April 25, 2024. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.53 per share. This would mark a year-over-year decline of 25.37%. Simultaneously, our latest consensus estimate expects the revenue to be $11.46 billion, showing a 1.11% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.61 per share and a revenue of $46.11 billion, indicating changes of -11.98% and +2.44%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Bristol Myers Squibb presently features a Zacks Rank of #4 (Sell).
With respect to valuation, Bristol Myers Squibb is currently being traded at a Forward P/E ratio of 7.97. This indicates a discount in contrast to its industry's Forward P/E of 23.4.
It is also worth noting that BMY currently has a PEG ratio of 1.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.59.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Bristol Myers Squibb (BMY - Free Report) closed at $52.49 in the latest trading session, marking a -0.3% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.29%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the biopharmaceutical company had gained 7.69% in the past month. In that same time, the Medical sector gained 3.72%, while the S&P 500 gained 4.42%.
The investment community will be paying close attention to the earnings performance of Bristol Myers Squibb in its upcoming release. The company is slated to reveal its earnings on April 25, 2024. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.53 per share. This would mark a year-over-year decline of 25.37%. Simultaneously, our latest consensus estimate expects the revenue to be $11.46 billion, showing a 1.11% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.61 per share and a revenue of $46.11 billion, indicating changes of -11.98% and +2.44%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Bristol Myers Squibb presently features a Zacks Rank of #4 (Sell).
With respect to valuation, Bristol Myers Squibb is currently being traded at a Forward P/E ratio of 7.97. This indicates a discount in contrast to its industry's Forward P/E of 23.4.
It is also worth noting that BMY currently has a PEG ratio of 1.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.59.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.