We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bristol Myers Squibb (BMY) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
In the latest market close, Bristol Myers Squibb (BMY - Free Report) reached $49.95, with a -1.94% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.19%. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq gained 0.04%.
The biopharmaceutical company's shares have seen an increase of 5.86% over the last month, surpassing the Medical sector's loss of 1.58% and the S&P 500's gain of 1.95%.
Analysts and investors alike will be keeping a close eye on the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2024. The company's earnings per share (EPS) are projected to be $1.57, reflecting a 21.5% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11.29 billion, indicating a 2.97% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.77 per share and a revenue of $46.82 billion, demonstrating changes of -89.75% and +4.04%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. At present, Bristol Myers Squibb boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Bristol Myers Squibb is currently being traded at a Forward P/E ratio of 66.01. This signifies a premium in comparison to the average Forward P/E of 22.47 for its industry.
It's also important to note that BMY currently trades at a PEG ratio of 13.2. 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 2.19 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 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bristol Myers Squibb (BMY) Dips More Than Broader Market: What You Should Know
In the latest market close, Bristol Myers Squibb (BMY - Free Report) reached $49.95, with a -1.94% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.19%. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq gained 0.04%.
The biopharmaceutical company's shares have seen an increase of 5.86% over the last month, surpassing the Medical sector's loss of 1.58% and the S&P 500's gain of 1.95%.
Analysts and investors alike will be keeping a close eye on the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2024. The company's earnings per share (EPS) are projected to be $1.57, reflecting a 21.5% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11.29 billion, indicating a 2.97% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.77 per share and a revenue of $46.82 billion, demonstrating changes of -89.75% and +4.04%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. At present, Bristol Myers Squibb boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Bristol Myers Squibb is currently being traded at a Forward P/E ratio of 66.01. This signifies a premium in comparison to the average Forward P/E of 22.47 for its industry.
It's also important to note that BMY currently trades at a PEG ratio of 13.2. 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 2.19 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 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.