Bristol-Myers Squibb Co. reported first quarter earnings that exceeded analysts’ expectations. The pharmaceutical company also confirmed its 2020 profit guidance.
The pharmaceutical company’s non-GAAP earnings for the three months ending in March increased +56% year-over-year to $1.72 per share in the quarter, ahead of the Street consensus estimate of $1.49 per share. Last year, the company purchased Celgene for $78 billion.
Revenue climbed +8.2% from the year-ago quarter to $10.78 billion, also exceeding analysts' estimates of a $10.02 billion.
For the full year 2020, Bristol-Myers reaffirmed its non-GAAP earnings guidance in the region of $6.00 to $6.20 per share. However, the company revised its revenue forecast downwards by around $500,000- to a range of $40 billion to $42 billion –from its prior estimate.
BMY's Aroon Indicator triggered a bullish signal on March 22, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 250 similar instances where the Aroon Indicator showed a similar pattern. In of the 250 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 59 cases where BMY's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on March 27, 2024. You may want to consider a long position or call options on BMY as a result. In of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
BMY moved above its 50-day moving average on February 21, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for BMY crossed bullishly above the 50-day moving average on February 28, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BMY advanced for three days, in of 322 cases, the price rose further within the following month. The odds of a continued upward trend are .
The 10-day RSI Indicator for BMY moved out of overbought territory on March 13, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator moved out of overbought territory. In of the 33 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for BMY turned negative on March 18, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BMY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BMY broke above its upper Bollinger Band on March 06, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.659) is normal, around the industry mean (5.792). P/E Ratio (13.795) is within average values for comparable stocks, (49.793). Projected Growth (PEG Ratio) (2.416) is also within normal values, averaging (3.057). BMY has a moderately high Dividend Yield (0.043) as compared to the industry average of (0.029). P/S Ratio (2.459) is also within normal values, averaging (3.723).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. BMY’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BMY’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of pharmaceuticals products
Industry PharmaceuticalsMajor