Bristol Myers Squibb (BMY) closed at $58.29 in the latest trading session, marking a -1.34% move from the prior day. This change was narrower than the S&P 500’s 1.76% loss on the day. At the same time, the Dow lost 1.45%, and the tech-heavy Nasdaq lost 1.99%.
Coming into today, shares of the biopharmaceutical company had lost 7.17% in the past month. In that same time, the Medical sector lost 0.92%, while the S&P 500 gained 1.56%.
Investors will be hoping for strength from BMY as it approaches its next earnings release. On that day, BMY is projected to report earnings of $1.49 per share, which would represent year-over-year growth of 27.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.37 billion, up 72.68% from the year-ago period.
BMY’s full-year Zacks Consensus Estimates are calling for earnings of $6.24 per share and revenue of $41.89 billion. These results would represent year-over-year changes of +33.05% and +60.23%, respectively.
Any recent changes to analyst estimates for BMY should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. BMY is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BMY has a Forward P/E ratio of 9.47 right now. This valuation marks a discount compared to its industry’s average Forward P/E of 24.06.
Meanwhile, BMY’s PEG ratio is currently 1.1. 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 1.7 as of yesterday’s close.
The Medical – Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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