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Bristol Myers Squibb (BMY) closed at $63.54 in the latest trading session, marking a -1.61% move from the prior day. This change was narrower than the S&P 500's 1.89% loss on the day. At the same time, the Dow lost 1.3%, and the tech-heavy Nasdaq lost 0.17%.
Heading into today, shares of the biopharmaceutical company had gained 4.08% over the past month, outpacing the Medical sector's loss of 7.68% and the S&P 500's loss of 1.79% 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 February 4, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.84 per share. This would mark year-over-year growth of 26.03%. Meanwhile, our latest consensus estimate is calling for revenue of $12.01 billion, up 8.48% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.15% lower. Bristol Myers Squibb is currently a Zacks Rank #4 (Sell).
Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 8.19. Its industry sports an average Forward P/E of 18.19, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
It is also worth noting that BMY currently has a PEG ratio of 1.05. 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. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.08 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 151, putting it in the bottom 41% 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.
To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.
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