Bristol Myers Squibb (BMY) closed at $71.52 in the latest trading session, marking a -0.36% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the biopharmaceutical company had lost 3.2% over the past month, outpacing the Medical sector's loss of 5.59% and the S&P 500's loss of 9.06% 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 $1.85 per share. This would mark a year-over-year decline of 7.5%. 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 $45.94 billion, which would represent changes of -0.13% and -0.96%, respectively, from the prior year.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 9.56 right now. For comparison, its industry has an average Forward P/E of 20.38, which means Bristol Myers Squibb is trading at a discount to the group.
It is also worth noting that BMY currently has a PEG ratio of 1.52. 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. BMY's industry had an average PEG ratio of 1.36 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 76, which puts it in the top 31% 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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