Bristol Stock- Bristol Myers Squibb (BMY) Gains As Market Dips: What You Should Know
Bristol Myers Squibb (BMY) closed at $64.07 in the latest trading session, marking a +0.2% move from the prior day. This move outpaced the S&P 500’s daily loss of 0.09%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq lost 0.6%.
Heading into today, shares of the biopharmaceutical company had gained 2.96% over the past month, outpacing the Medical sector’s gain of 0.72% and lagging the S&P 500’s gain of 4.45% in that time.
BMY will be looking to display strength as it nears its next earnings release, which is expected to be April 29, 2021. On that day, BMY is projected to report earnings of $1.82 per share, which would represent year-over-year growth of 5.81%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.13 billion, up 3.19% from the year-ago period.
BMY’s full-year Zacks Consensus Estimates are calling for earnings of $7.44 per share and revenue of $45.97 billion. These results would represent year-over-year changes of +15.53% and +8.13%, respectively.
Investors might also notice recent changes to analyst estimates for BMY. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.06% lower. BMY is currently a Zacks Rank #3 (Hold).
Investors should also note BMY’s current valuation metrics, including its Forward P/E ratio of 8.59. This valuation marks a discount compared to its industry’s average Forward P/E of 23.62.
It is also worth noting that BMY currently has a PEG ratio of 1.23. 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 was holding an average PEG ratio of 1.54 at yesterday’s closing price.
The Medical – Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 26% 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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