Bristol Myers Squibb (BMY) Stock Sinks As Market Gains: What You Should Know
Bristol Myers Squibb (BMY) closed the most recent trading day at $67.10, moving -0.56% from the previous trading session. This change lagged the S&P 500's daily gain of 1.76%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 3.03%.
Prior to today's trading, shares of the biopharmaceutical company had lost 5.58% over the past month. This has lagged the Medical sector's loss of 4.26% and was narrower than the S&P 500's loss of 5.94% in that time.
Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. The company is expected to report EPS of $1.99, up 1.53% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.64 billion, down 0.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.06 per share and revenue of $47.01 billion, which would represent changes of +4.68% and +1.84%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 8.38. Its industry sports an average Forward P/E of 17.3, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
We can also see that BMY currently has a PEG ratio of 1.47. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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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Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report
