Bristol Myers Squibb (BMY) closed at $65.60 in the latest trading session, marking a +0.21% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the biopharmaceutical company had gained 5.02% over the past month. This has outpaced the Medical sector's loss of 1.91% and lagged the S&P 500's gain of 5.72% in that time.
BMY will be looking to display strength as it nears its next earnings release, which is expected to be April 29, 2021. The company is expected to report EPS of position: absolute;.82, up 5.81% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of position: absolute;1.11 billion, up 3.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.45 per share and revenue of $45.99 billion, which would represent changes of +15.68% and +8.17%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BMY. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. BMY currently has a Zacks Rank of #3 (Hold).
Investors should also note BMY's current valuation metrics, including its Forward P/E ratio of 8.79. This valuation marks a discount compared to its industry's average Forward P/E of 26.35.
It is also worth noting that BMY currently has a PEG ratio of 1.26. 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. BMY's industry had an average PEG ratio of 1.5 as of yesterday's close.