In the latest trading session, Bristol Myers Squibb (BMY) closed at $76.18, marking a -0.54% move from the previous day. This change was narrower than the S&P 500’s daily loss of 1.08%. Elsewhere, the Dow lost 0.81%, while the tech-heavy Nasdaq added 0.22%.
Coming into today, shares of the biopharmaceutical company had gained 0.39% in the past month. In that same time, the Medical sector gained 1.97%, while the S&P 500 gained 1.03%.
Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be July 27, 2022. On that day, Bristol Myers Squibb is projected to report earnings of $1.91 per share, which would represent a year-over-year decline of 1.04%. Meanwhile, our latest consensus estimate is calling for revenue of $11.52 billion, down 1.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.59 per share and revenue of $46.33 billion, which would represent changes of +1.07% and -0.12%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.31% lower within the past month. Bristol Myers Squibb currently has 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 10.09 right now. This represents a discount compared to its industry’s average Forward P/E of 22.05.
Investors should also note that BMY has a PEG ratio of 1.62 right now. 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 1.18 as of yesterday’s close.
The Medical – Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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