Bristol-Myers Squibb Co (NYSE:BMY) declared a quarterly dividend on Thursday, June 11th, Zacks reports. Investors of record on Monday, July 6th will be given a dividend of 0.45 per share by the biopharmaceutical company on Monday, August 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, July 2nd.
Bristol-Myers Squibb has increased its dividend payment by an average of 90.7% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Bristol-Myers Squibb has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bristol-Myers Squibb to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 24.5%.
Bristol-Myers Squibb stock opened at $57.80 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.51 and a current ratio of 1.66. The firm has a market cap of $130.20 billion, a price-to-earnings ratio of 71.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73. Bristol-Myers Squibb has a 1 year low of $42.48 and a 1 year high of $68.34. The firm’s 50 day moving average price is $59.82 and its two-hundred day moving average price is $60.91.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.23. The firm had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.04 billion. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The firm’s quarterly revenue was up 82.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. As a group, equities analysts predict that Bristol-Myers Squibb will post 6.15 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research note on Thursday, April 16th. Cfra raised their target price on Bristol-Myers Squibb from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and set a $64.00 target price for the company in a research report on Thursday, April 2nd. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Monday, March 23rd. Finally, Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $68.00 to $88.00 in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $68.00.
In other news, EVP Louis S. Schmukler sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the transaction, the executive vice president now directly owns 26,777 shares of the company’s stock, valued at approximately $1,678,382.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dinesh C. Paliwal bought 9,174 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $499,983.00. Following the purchase, the director now directly owns 22,109 shares in the company, valued at approximately $1,204,940.50. The disclosure for this purchase can be found here. 0.14% of the stock is owned by insiders.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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