Bristol Myers Squibb (BMY) Stock Moves -1.32%: What You Should Know
Bristol Myers Squibb (BMY) closed at $60.50 in the latest trading session, marking a -1.32% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.7%.
Heading into today, shares of the biopharmaceutical company had lost 11.4% over the past month, lagging the Medical sector's loss of 1.41% and the S&P 500's loss of 0.27% in that time.
Investors will be hoping for strength from BMY as it approaches its next earnings release, which is expected to be October 27, 2021. In that report, analysts expect BMY to post earnings of $1.91 per share. This would mark year-over-year growth of 17.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.51 billion, up 9.23% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.48 per share and revenue of $46.32 billion. These results would represent year-over-year changes of +16.15% and +8.95%, respectively.
Any recent changes to analyst estimates for BMY 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. BMY is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BMY has a Forward P/E ratio of 8.2 right now. For comparison, its industry has an average Forward P/E of 25.88, which means BMY is trading at a discount to the group.
Also, we should mention that BMY has a PEG ratio of 1.16. 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. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.59 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 23% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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