In the latest trading session, Bristol-Myers Squibb (BMY) closed at $51.56, marking a -0.1% move from the previous day. This change was narrower than the S&P 500's 0.14% loss on the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the biopharmaceutical company had gained 4.03% over the past month. This has outpaced the Medical sector's loss of 3.51% and the S&P 500's loss of 0.91% in that time.
Investors will be hoping for strength from BMY as it approaches its next earnings release, which is expected to be October 31, 2019. In that report, analysts expect BMY to post earnings of $1.05 per share. This would mark a year-over-year decline of 3.67%. Our most recent consensus estimate is calling for quarterly revenue of $5.83 billion, up 2.36% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $4.29 per share and revenue of $24.05 billion. These results would represent year-over-year changes of +7.79% and +6.59%, respectively.
It is also important to note the recent changes to analyst estimates for BMY. These recent revisions tend to reflect the evolving nature of short-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. 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.
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 0.07% higher within the past month. BMY is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note BMY's current valuation metrics, including its Forward P/E ratio of 12.04. This valuation marks a discount compared to its industry's average Forward P/E of 14.38.
It is also worth noting that BMY currently has a PEG ratio of 2.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% 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.
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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