Bristol Myers Squibb (BMY) closed the most recent trading day at $45.60, moving -1.19% from the previous trading session. This change lagged the S&P 500's daily gain of 0.48%. On the other hand, the Dow registered a gain of 0.27%, and the technology-centric Nasdaq increased by 0.94%.
Shares of the biopharmaceutical company witnessed a loss of 4.37% over the previous month, trailing the performance of the Medical sector with its gain of 1.09%, and the S&P 500's gain of 2.46%.
Analysts and investors alike will be keeping a close eye on the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.65, showcasing a 8.33% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $11.77 billion, down 1.03% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.5 per share and revenue of $47.31 billion, which would represent changes of +465.22% and -2.06%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Bristol Myers Squibb. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Bristol Myers Squibb boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Bristol Myers Squibb is at present trading with a Forward P/E ratio of 7.1. This indicates a discount in contrast to its industry's Forward P/E of 20.03.
It is also worth noting that BMY currently has a PEG ratio of 2.37. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.64 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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