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Bristol Myers Squibb (BMY) closed the most recent trading day at $75.98, moving -0.26% from the previous trading session. This change was narrower than the S&P 500's 2.38% loss on the day. Meanwhile, the Dow lost 1.94%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Prior to today's trading, shares of the biopharmaceutical company had gained 0.04% over the past month. This has lagged the Medical sector's gain of 1.41% and outpaced the S&P 500's loss of 0.07% in that time.
Bristol Myers Squibb will be looking to display strength as it nears 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, the Zacks Consensus Estimate for revenue is projecting net sales of $11.52 billion, down 1.55% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.59 per share and revenue of $46.33 billion. These results would represent year-over-year changes of +1.07% and -0.12%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 0.31% lower within the past month. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Bristol Myers Squibb is currently trading at a Forward P/E ratio of 10.03. This represents a discount compared to its industry's average Forward P/E of 21.92.
Investors should also note that BMY has a PEG ratio of 1.61 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 1.15 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 105, which puts it in the top 42% 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.
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