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Bristol-Myers Squibb (BMY) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

Bristol-Myers Squibb (BMY) closed the most recent trading day at $44.19, moving -0.18% from the previous trading session. This move lagged the S&P 500's daily gain of 0.02%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 0.17%.

Coming into today, shares of the biopharmaceutical company had lost 6.47% in the past month. In that same time, the Medical sector lost 0.79%, while the S&P 500 gained 4.82%.

Investors will be hoping for strength from BMY as it approaches its next earnings release, which is expected to be July 25, 2019. On that day, BMY is projected to report earnings of $1.06 per share, which would represent year-over-year growth of 4.95%. Our most recent consensus estimate is calling for quarterly revenue of $6.03 billion, up 5.64% from the year-ago period.

BMY's full-year Zacks Consensus Estimates are calling for earnings of $4.17 per share and revenue of $23.92 billion. These results would represent year-over-year changes of +4.77% and +6.02%, respectively.

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Investors might also notice recent changes to analyst estimates for BMY. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.19% lower. BMY is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, BMY is currently trading at a Forward P/E ratio of 10.62. This valuation marks a discount compared to its industry's average Forward P/E of 14.3.

We can also see that BMY currently has a PEG ratio of 2.07. 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 2.09 at yesterday's closing price.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 33, putting it in the top 13% 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.

To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.


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Zacks Investment Research