Bristol Myers Squibb (BMY) Gains As Market Dips: What You Should Know

Bristol Myers Squibb (BMY) closed the most recent trading day at $69.24, moving +0.54% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.74%.

Prior to today's trading, shares of the biopharmaceutical company had gained 2.98% over the past month. This has outpaced the Medical sector's loss of 2.46% and the S&P 500's loss of 4.6% 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 April 29, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.93 per share. This would mark year-over-year growth of 10.92%. Our most recent consensus estimate is calling for quarterly revenue of $11.33 billion, up 2.28% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $7.79 per share and revenue of $46.88 billion, which would represent changes of +3.73% and +1.07%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

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 0.1% lower. Bristol Myers Squibb is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 8.84 right now. For comparison, its industry has an average Forward P/E of 19.46, which means Bristol Myers Squibb is trading at a discount to the group.

We can also see that BMY currently has a PEG ratio of 1.31. 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 industry currently had an average PEG ratio of 1.07 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 159, which puts it in the bottom 38% 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.

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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