The upcoming report from Bristol Myers Squibb (BMY) is expected to reveal quarterly earnings of $1.15 per share, indicating a decline of 31.1% compared to the year-ago period. Analysts forecast revenues of $12.25 billion, representing a decline of 0.7% year over year.
The current level reflects a downward revision of 3.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Bristol Myers metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'Net Sales- Revlimid' stands at $603.78 million. The estimate suggests a change of -54.9% year over year.
Analysts predict that the 'Net Sales- Opdivo' will reach $2.60 billion. The estimate suggests a change of +5% year over year.
The consensus among analysts is that 'Net Sales- Abraxane' will reach $60.47 million. The estimate suggests a change of -65.3% year over year.
The average prediction of analysts places 'Net Sales- Reblozyl' at $635.79 million. The estimate suggests a change of +16.2% year over year.
The combined assessment of analysts suggests that 'Net Sales- Abraxane- U.S.' will likely reach $21.65 million. The estimate points to a change of -76.2% from the year-ago quarter.
It is projected by analysts that the 'Net Sales- Opdivo- U.S.' will reach $1.45 billion. The estimate indicates a year-over-year change of +1.9%.
Analysts' assessment points toward 'Net Sales- Pomalyst/Imnovid- U.S.' reaching $571.24 million. The estimate indicates a year-over-year change of -16.6%.
The collective assessment of analysts points to an estimated 'Net Sales- Pomalyst/Imnovid- International' of $57.47 million. The estimate points to a change of -58.4% from the year-ago quarter.
Analysts expect 'Net Sales- Revlimid- U.S.' to come in at $513.83 million. The estimate points to a change of -56.1% from the year-ago quarter.
Based on the collective assessment of analysts, 'Net Sales- Revlimid- International' should arrive at $82.90 million. The estimate indicates a year-over-year change of -51.2%.
Analysts forecast 'Net Sales- Reblozyl- U.S.' to reach $509.67 million. The estimate indicates a change of +14.5% from the prior-year quarter.
According to the collective judgment of analysts, 'Net Sales- Reblozyl- International' should come in at $129.32 million. The estimate points to a change of +26.8% from the year-ago quarter.
View all Key Company Metrics for Bristol Myers here>>>
Shares of Bristol Myers have demonstrated returns of +3% over the past month compared to the Zacks S&P 500 composite's +0.7% change. With a Zacks Rank #3 (Hold), BMY is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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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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