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In the latest trading session, Bristol Myers Squibb (BMY) closed at $76.84, marking a -0.21% move from the previous day. This change lagged the S&P 500's 1.06% gain on the day. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 0.4%.
Prior to today's trading, shares of the biopharmaceutical company had gained 2.57% over the past month. This has outpaced the Medical sector's loss of 3.76% and the S&P 500's loss of 8.3% 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 July 27, 2022. On that day, Bristol Myers Squibb is projected to report earnings of $1.93 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.52 billion, down 1.57% from the year-ago period.
BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.56 per share and revenue of $46.32 billion. These results would represent year-over-year changes of +0.67% and -0.13%, respectively.
Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. 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. The Zacks Consensus EPS estimate has moved 0.12% lower within the past month. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 10.18. Its industry sports an average Forward P/E of 21.5, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.
Also, we should mention that BMY has a PEG ratio of 1.63. 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. BMY's industry had an average PEG ratio of 1.08 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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