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Bristol Myers Squibb (BMY) Stock Moves -0.49%: What You Should Know

Bristol Myers Squibb (BMY) closed at $71.71 in the latest trading session, marking a -0.49% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.11%. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.

Heading into today, shares of the biopharmaceutical company had gained 6.9% over the past month, outpacing the Medical sector's loss of 4.04% and the S&P 500's loss of 8.19% in that time.

Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be October 26, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.85 per share. This would mark a year-over-year decline of 7.5%. Meanwhile, our latest consensus estimate is calling for revenue of $11.11 billion, down 4.41% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.50 per share and revenue of $45.95 billion. These totals would mark changes of -0.13% and -0.95%, respectively, from last year.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 0.02% lower within the past month. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Bristol Myers Squibb currently has a Forward P/E ratio of 9.6. This valuation marks a discount compared to its industry's average Forward P/E of 18.86.

Also, we should mention that BMY has a PEG ratio of 1.53. 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 1.32 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 81, which puts it in the top 33% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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