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 saw its Momentum Indicator move below the 0 level on May 15, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 84 similar instances where the indicator turned negative. In of the 84 cases, the stock moved further down in the following days. The odds of a decline are at .
The Moving Average Convergence Divergence Histogram (MACD) for BMY turned negative on May 16, 2023. 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 .
BMY moved below its 50-day moving average on May 12, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BMY crossed bearishly below the 50-day moving average on May 05, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
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 .
The Aroon Indicator for BMY entered a downward trend on May 26, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator entered the oversold zone -- be on the watch for BMY's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BMY advanced for three days, in of 326 cases, the price rose further within the following month. The odds of a continued upward trend are .
BMY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call 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 (4.212) is normal, around the industry mean (6.203). P/E Ratio (18.622) is within average values for comparable stocks, (30.295). Projected Growth (PEG Ratio) (2.437) is also within normal values, averaging (3.531). Dividend Yield (0.035) settles around the average of (0.027) among similar stocks. P/S Ratio (2.969) is also within normal values, averaging (4.063).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 59, placing this stock better than average.
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 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