Bristol Myers Squibb (BMY) closed at $72.62 in the latest trading session, marking a -0.55% move from the prior day. This change was narrower than the S&P 500’s daily loss of 3.25%. Elsewhere, the Dow lost 2.42%, while the tech-heavy Nasdaq lost 0.49%.
Coming into today, shares of the biopharmaceutical company had lost 5.19% in the past month. In that same time, the Medical sector lost 1.96%, while the S&P 500 lost 5.62%.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be July 27, 2022. On that day, Bristol Myers Squibb is projected to report earnings of $1.90 per share, which would represent a year-over-year decline of 1.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.52 billion, down 1.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.56 per share and revenue of $46.32 billion. These totals would mark changes of +0.67% and -0.13%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 9.66 right now. This represents a discount compared to its industry’s average Forward P/E of 20.16.
We can also see that BMY currently has a PEG ratio of 1.55. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. The Medical – Biomedical and Genetics was holding an average PEG ratio of 1.07 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 105, putting it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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