Bristol Myers Squibb (BMY) Stock Moves -0.81%: What You Should Know

Bristol Myers Squibb (BMY) closed at $70.71 in the latest trading session, marking a -0.81% move from the prior day. This change was narrower than the S&P 500's 1.72% loss on the day. Elsewhere, the Dow lost 1.62%, while the tech-heavy Nasdaq added 0.09%.

Heading into today, shares of the biopharmaceutical company had lost 0.29% over the past month, outpacing the Medical sector's loss of 6.61% and the S&P 500's loss of 9.09% in that time.

Investors will be hoping for strength from Bristol Myers Squibb as it approaches its next earnings release, which is expected to be October 26, 2022. The company is expected to report EPS of $1.85, down 7.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.11 billion, down 4.41% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $7.50 per share and revenue of $45.95 billion, which would represent changes of -0.13% and -0.95%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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 moved 0.02% lower. Bristol Myers Squibb is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Bristol Myers Squibb is currently trading at a Forward P/E ratio of 9.5. Its industry sports an average Forward P/E of 18.87, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.

Investors should also note that BMY has a PEG ratio of 1.51 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BMY's industry had an average PEG ratio of 1.24 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 78, putting it in the top 31% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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