Bristol Myers Squibb (BMY) closed the most recent trading day at $52.41, moving +2.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.07%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 1.69%.
The biopharmaceutical company's stock has climbed by 5.28% in the past month, exceeding the Medical sector's gain of 2.1% and the S&P 500's gain of 0.94%.
Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.65, showcasing a 1.2% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.27 billion, down 0.57% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.52 per share and revenue of $47.9 billion, indicating changes of +466.96% and -0.82%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.08% lower. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 7.85. This represents a discount compared to its industry average Forward P/E of 18.16.
It is also worth noting that BMY currently has a PEG ratio of 7.85. 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. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 1.68.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 91, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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