Bristol Myers Squibb (BMY) closed the most recent trading day at $63.95, moving -0.08% from the previous trading session. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the biopharmaceutical company had lost 1.05% in the past month. In that same time, the Medical sector gained 2.55%, while the S&P 500 gained 4.67%.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be July 27, 2023. In that report, analysts expect Bristol Myers Squibb to post earnings of $2.04 per share. This would mark year-over-year growth of 5.7%. Our most recent consensus estimate is calling for quarterly revenue of $11.86 billion, down 0.19% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $8.07 per share and revenue of $46.56 billion. These results would represent year-over-year changes of +4.81% and +0.87%, respectively.
Investors should also note any 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.
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.
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 0.14% higher. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 7.93. Its industry sports an average Forward P/E of 18.37, 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 1.31. 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 1.81 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 96, putting 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.
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