The most recent trading session ended with Bristol Myers Squibb (BMY) standing at $57.68, reflecting a -0.55% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.77%, while the tech-heavy Nasdaq depreciated by 1.49%.
The the stock of biopharmaceutical company has fallen by 2.14% in the past month, leading the Medical sector's loss of 4.56% and undershooting the S&P 500's gain of 0.4%.
Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company plans to announce its earnings on February 6, 2025. The company is predicted to post an EPS of $1.47, indicating a 13.53% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $11.59 billion, showing a 0.96% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.93 per share and revenue of $47.56 billion, indicating changes of -87.62% and +5.67%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.27% higher. Bristol Myers Squibb is currently sporting a Zacks Rank of #2 (Buy).
From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 62.08. This expresses a premium compared to the average Forward P/E of 24.81 of its industry.
We can also see that BMY currently has a PEG ratio of 15.52. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. BMY's industry had an average PEG ratio of 1.69 as of yesterday's close.