Bristol Myers Squibb (BMY) closed the most recent trading day at $71.09, moving -0.86% from the previous trading session. This change was narrower than the S&P 500's 1.51% loss on the day. Elsewhere, the Dow lost 1.71%, while the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the biopharmaceutical company had gained 3.79% over the past month, outpacing the Medical sector's loss of 4.08% and the S&P 500's loss of 9.52% in that time.
Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.84 per share. This would mark a year-over-year decline of 8%. Our most recent consensus estimate is calling for quarterly revenue of $11.11 billion, down 4.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.50 per share and revenue of $45.95 billion, which would represent changes of -0.13% and -0.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 9.56 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.25.
Meanwhile, BMY's PEG ratio is currently 1.52. 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 1.3 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 84, which puts it in the top 34% 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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