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Bristol Myers Squibb (BMY) Stock Sinks As Market Gains: What You Should Know
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Bristol Myers Squibb (BMY - Free Report) ended the recent trading session at $48.59, demonstrating a -1.4% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.07%. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 2.17%.
Shares of the biopharmaceutical company have appreciated by 0.45% over the course of the past month, underperforming the Medical sector's gain of 3.34% and the S&P 500's gain of 2.92%.
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 October 31, 2024. The company's earnings per share (EPS) are projected to be $1.57, reflecting a 21.5% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.29 billion, up 2.97% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.77 per share and a revenue of $46.82 billion, demonstrating changes of -89.75% and +4.04%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. 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 63.86. This expresses a premium compared to the average Forward P/E of 22.11 of its industry.
We can additionally observe that BMY currently boasts a PEG ratio of 12.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 2.16 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Stock Sinks As Market Gains: What You Should Know
Bristol Myers Squibb (BMY - Free Report) ended the recent trading session at $48.59, demonstrating a -1.4% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.07%. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 2.17%.
Shares of the biopharmaceutical company have appreciated by 0.45% over the course of the past month, underperforming the Medical sector's gain of 3.34% and the S&P 500's gain of 2.92%.
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 October 31, 2024. The company's earnings per share (EPS) are projected to be $1.57, reflecting a 21.5% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.29 billion, up 2.97% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.77 per share and a revenue of $46.82 billion, demonstrating changes of -89.75% and +4.04%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. 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 63.86. This expresses a premium compared to the average Forward P/E of 22.11 of its industry.
We can additionally observe that BMY currently boasts a PEG ratio of 12.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 2.16 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.