Yahoo Finance Bristol Myers Squibb (BMY) Stock Declines While Market Improves: Some Information for Investors
Bristol Myers Squibb (BMY) ended the recent trading session at $42.19, demonstrating a -0.09% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, added 0.16%.
The the stock of biopharmaceutical company has risen by 2.4% in the past month, leading the Medical sector's gain of 2.3% and undershooting the S&P 500's gain of 2.83%.
Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 26, 2024. The company is predicted to post an EPS of $1.67, indicating a 4.57% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $11.48 billion, up 2.23% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.59 per share and revenue of $46.12 billion. These totals would mark changes of -92.14% and +2.48%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Bristol Myers Squibb. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 remained steady. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).
Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 71.49. This represents a premium compared to its industry's average Forward P/E of 24.31.
Meanwhile, BMY's PEG ratio is currently 14.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 2.15.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report
