Bristol Myers Squibb (BMY) Dips More Than Broader Markets: What You Should Know
Bristol Myers Squibb (BMY) closed at $61.48 in the latest trading session, marking a -1.09% move from the prior day.
Bristol Myers Squibb (BMY) closed at $61.48 in the latest trading session, marking a -1.09% move from the prior day. This change lagged the S&P 500's 0.1% loss on the day. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the biopharmaceutical company had gained 7.92% over the past month, outpacing the Medical sector's gain of 1.09% and the S&P 500's gain of 3.67% in that time.
Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be February 4, 2022. The company is expected to report EPS of $1.85, up 26.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12 billion, up 8.43% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.05% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 7.86. Its industry sports an average Forward P/E of 17.79, 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 1.1. 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 1.29 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 109, putting it in the top 43% 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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