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Bristol Myers Squibb (BMY) Declines More Than Market: Some Information for Investors
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The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $42.39, denoting a -1.76% adjustment from its last day's close. This change lagged the S&P 500's 0.78% loss on the day. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
Prior to today's trading, shares of the biopharmaceutical company had gained 5.73% over the past month. This has outpaced the Medical sector's gain of 2.23% and the S&P 500's gain of 2.14% in that time.
Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company plans to announce its earnings on July 26, 2024. The company is expected to report EPS of $1.64, down 6.29% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $11.5 billion, reflecting a 2.46% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.55 per share and revenue of $46.09 billion, which would represent changes of -92.68% and +2.42%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.16% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 78.68. This denotes a premium relative to the industry's average Forward P/E of 24.17.
We can also see that BMY currently has a PEG ratio of 15.74. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
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) Declines More Than Market: Some Information for Investors
The latest trading session saw Bristol Myers Squibb (BMY - Free Report) ending at $42.39, denoting a -1.76% adjustment from its last day's close. This change lagged the S&P 500's 0.78% loss on the day. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
Prior to today's trading, shares of the biopharmaceutical company had gained 5.73% over the past month. This has outpaced the Medical sector's gain of 2.23% and the S&P 500's gain of 2.14% in that time.
Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company plans to announce its earnings on July 26, 2024. The company is expected to report EPS of $1.64, down 6.29% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $11.5 billion, reflecting a 2.46% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.55 per share and revenue of $46.09 billion, which would represent changes of -92.68% and +2.42%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.16% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 78.68. This denotes a premium relative to the industry's average Forward P/E of 24.17.
We can also see that BMY currently has a PEG ratio of 15.74. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
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.