Consensus Target in the Spotlight for Bristol-Myers Squibb Company (NYSE:BMY)

Sell-side analysts following Bristol-Myers Squibb Company (NYSE:BMY) have been making their best calculations on where they believe the stock is heading.  Combining estimates from polled analysts used by Zacks Research, we can see that the consensus target price is currently $63.44 on the stock. This number may vary from other data providers providing consensus target estimates. Covering analysts may use different methods in order to create a future target price. Because of the various methods used, price targets may be widely different from one covering analyst to the next. 

Investors often have to make the decision of how aggressive they are going to invest. Some investors looking to make a quick dollar may jump in head first without a plan. This can be dangerous for the health of the portfolio in the long-term. Taking a chance on a risky stock may provide high returns, but investors often need to calculate whether the risk is worth the reward. Managing that risk in turbulent markets may help keep the average investor afloat when the markets inevitably turn sour for an extended period. Doing all the necessary stock research may include keeping a close tab on technicals, fundamentals, relevant economic data, and earnings reports. Investors may have to find a way to keep the rational side from being consumed by irrational behavior when studying the markets.

Investors may be following some historical price data on shares of Bristol-Myers Squibb Company (NYSE:BMY). Over the past 12 weeks, the stock has seen a change of -12.68%. If we go back to the beginning of the year, we can see that shares have changed -13.38%. Over the last 4 weeks, shares have seen a change of 0.51%. Over the last 5 trading sessions, the stock has moved 2.43%. Investors will be monitoring stock activity over the next few weeks to try and gauge which way the momentum is leaning. Checking on some possible support and resistance levels, we have noted that that the 52-week high is currently $68.98, and the 52-week low is currently $48.83. When shares are trading close to the 52-week high or 52-week low, investors might be paying added attention. Looking at some recent action, we note that the stock has been seen trading near the $53.08 mark.

We can now shift the focus to some company earnings data. Based on projections provided by 11 individual Wall Street analysts polled by Zacks Research, Bristol-Myers Squibb Company (NYSE:BMY) has a current quarter EPS consensus estimate of 0.84. For the prior reporting period, the company posted quarterly earnings per share of 1.09. As earnings season continues, investors will be closely tracking analyst estimates. Sell-side analysts often make updates before and after the company reports earnings numbers. Following analyst estimate updates leading up to the earnings release may offer some good insight into the direction that the estimates are trending. Investors will be watching to see which companies post the largest earnings surprises this quarter.

Taking a look at the current consensus broker rating for Bristol-Myers Squibb Company (NYSE:BMY), we note that the ABR is 2.27. This Zacks consensus rating follows a numerical scale where a number in the 1-2 range generally represents a Buy, a 3 would indicate a Hold and 4-5 signals a Sell rating. In terms of the number of bullish analysts that have the stock rated a Buy or Strong Buy, we can see that the number is currently 4.

Trying to predict the day to day short-term movements of the stock market can be nearly impossible. Stocks have the tendency to make sudden moves on even the slightest bit of news or for apparently no reason at all. The daily trader may be looking to capitalize on swings or momentum, but the long-term investor may be searching for stability and consistency over a sustained period of time. During trading sessions, stock movements can seem like a popularity contest from time to time. Even after meticulous study, there may be no logical reason for a particular stock move. Riding out the waves of uncertainty may not be easy, but having a full-proof plan for when markets turn bad might be a great help to investors for long-term portfolio health.  

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