In the latest trading session, Bristol Myers Squibb (BMY) closed at $47.23, marking a +1.09% move from the previous day. This move outpaced the S&P 500's daily gain of 0.27%. On the other hand, the Dow registered a gain of 0.43%, and the technology-centric Nasdaq increased by 0.37%.
The stock of biopharmaceutical company has risen by 1.72% in the past month, lagging the Medical sector's gain of 6.54% and the S&P 500's gain of 1.85%.
The upcoming earnings release of Bristol Myers Squibb will be of great interest to investors. The company's upcoming EPS is projected at $1.65, signifying a 8.33% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $11.77 billion, down 1.03% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.5 per share and a revenue of $47.31 billion, representing changes of +465.22% and -2.06%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.04% fall in the Zacks Consensus EPS estimate. Currently, Bristol Myers Squibb is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 7.19 right now. This indicates a discount in contrast to its industry's Forward P/E of 21.16.
We can also see that BMY currently has a PEG ratio of 2.4. 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. BMY's industry had an average PEG ratio of 1.61 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Bristol Myers Squibb Company (BMY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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