In the latest trading session, Bristol-Myers Squibb (BMY) closed at $50.88, marking a +0.26% move from the previous day. This move outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Prior to today's trading, shares of the biopharmaceutical company had gained 4.62% over the past month. This has outpaced the Medical sector's loss of 1.24% and the S&P 500's gain of 0.59% in that time.
Wall Street will be looking for positivity from BMY as it approaches its next earnings report date. This is expected to be October 31, 2019. In that report, analysts expect BMY to post earnings of $1.06 per share. This would mark a year-over-year decline of 2.75%. Meanwhile, our latest consensus estimate is calling for revenue of $5.83 billion, up 2.36% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.29 per share and revenue of $24.07 billion. These totals would mark changes of +7.79% and +6.69%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BMY. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. BMY is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, BMY is currently trading at a Forward P/E ratio of 11.84. This valuation marks a discount compared to its industry's average Forward P/E of 14.36.
Meanwhile, BMY's PEG ratio is currently 2.5. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.1 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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