In the latest trading session, Bristol Myers Squibb (BMY) closed at $72.61, marking a -0.38% move from the previous day. This move was narrower than the S&P 500’s daily loss of 0.41%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the biopharmaceutical company had lost 7.9% in the past month. In that same time, the Medical sector gained 0.95%, while the S&P 500 lost 4.4%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be February 2, 2023. On that day, Bristol Myers Squibb is projected to report earnings of $1.74 per share, which would represent a year-over-year decline of 4.92%. Our most recent consensus estimate is calling for quarterly revenue of $11.13 billion, down 7.16% from the year-ago period.
BMY’s full-year Zacks Consensus Estimates are calling for earnings of $7.60 per share and revenue of $45.88 billion. These results would represent year-over-year changes of +1.2% and -1.09%, respectively.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 0.04% higher within the past month. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 9.59. This valuation marks a discount compared to its industry’s average Forward P/E of 19.77.
Meanwhile, BMY’s PEG ratio is currently 1.72. 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 Medical – Biomedical and Genetics was holding an average PEG ratio of 1.29 at yesterday’s closing price.
The Medical – Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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