Bristol-Myers Squibb (BMY) closed the most recent trading day at $59.72, moving -0.15% from the previous trading session. This change lagged the S&P 500's daily gain of 0.48%. Meanwhile, the Dow lost 0.07%, and the Nasdaq, a tech-heavy index, added 1.29%.
Wall Street will be looking for positivity from BMY as it approaches its next earnings report date. In that report, analysts expect BMY to post earnings of $1.47 per share. This would mark year-over-year growth of 24.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.96 billion, up 58.78% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $6.14 per share and revenue of $41.58 billion. These results would represent year-over-year changes of +30.92% and +59.02%, respectively.
It is also important to note the recent changes to analyst estimates for BMY. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.46% higher. BMY is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note BMY's current valuation metrics, including its Forward P/E ratio of 9.74. This represents a discount compared to its industry's average Forward P/E of 14.75.
Investors should also note that BMY has a PEG ratio of 1.16 right now. 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 Large Cap Pharmaceuticals was holding an average PEG ratio of 1.95 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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