Bristol-Myers Squibb (BMY) Outperforms Market Gains: What You Need To Know
Bristol-Myers Squibb (BMY) closed at $ 64.83 in the last trading session, marking a movement of + 0.42% from the previous day. The change topped the S&P 500’s 0.36% gain on the day. At the same time, the Dow Jones lost 0.12% and the tech-rich Nasdaq gained 0.69%.
As of today, shares of the biopharmaceutical company had gained 5.58% over the past month. At the same time, the medical sector gained 3.29%, while the S&P 500 gained 4.27%.
Wall Street will be looking for positivity from BMY as the date of its next earnings report approaches. That is expected to be February 4, 2021. In this report, analysts expect BMY to post earnings of $ 1.37 per share. This would represent year-over-year growth of 12.3%. Our most recent consensus estimate projects quarterly revenue of $ 10.56 billion, up 32.94% from the previous year.
It’s also important to note the recent changes to analyst estimates for BMY. These revisions help show the ever-changing nature of short-term business trends. With this in mind, we can take positive estimate revisions as a sign of optimism about the company’s business prospects.
Research indicates that these estimate revisions are directly correlated with short-term stock price dynamics. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes these rating changes into account and provides an actionable rating system.
Zacks’ ranking system ranges from # 1 (strong buy) to # 5 (strong sell). It has a remarkable track record of externally verified success, with the No.1 stocks generating an average annual return of + 25% since 1988. Over the past month, Zacks Consensus’s EPS estimate has risen by 0. 39%. BMY currently holds a Zacks rank of 3 (Maintain).
Investors should also note BMY’s current valuation metrics, including its forward P / E ratio of 8.77. For comparison, his industry has an average forward P / E of 30.99, which means BMY is trading at a discount to the group.
Also, we have to mention that BMY has a PEG ratio of 0.96. The PEG ratio is similar to the widely used P / E ratio, but this metric also takes into account the expected profit growth rate of the company. Medical – Biomedical and genetic stocks have, on average, a PEG ratio of 1.24 based on yesterday’s closing prices.
The Medical – Biomedical and Genetic industry is part of the Medical sector. This group has a Zacks Industry Rank of 221, which places it in the lowest 14% of all 250+ industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock market metrics and more on Zacks.com.
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Bristol Myers Squibb Company (BMY): Free Stock Analysis Report
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