Research Analysts Issue Forecasts for Bristol-Myers Squibb’s FY2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Analysts at Cantor Fitzgerald reduced their FY2024 earnings estimates for Bristol-Myers Squibb in a research note issued to investors on Monday, July 22nd. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will earn $0.55 per share for the year, down from their prior estimate of $0.67. Cantor Fitzgerald currently has a “Neutral” rating and a $45.00 target price on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.54 per share.

A number of other research analysts have also issued reports on BMY. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday. BMO Capital Markets dropped their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Barclays lowered their target price on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $57.73.

Bristol-Myers Squibb Trading Up 3.9 %

Shares of Bristol-Myers Squibb stock opened at $44.66 on Tuesday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $64.65. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company’s 50-day simple moving average is $41.60 and its 200-day simple moving average is $46.84. The firm has a market cap of $90.53 billion, a price-to-earnings ratio of -14.41, a price-to-earnings-growth ratio of 15.83 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.37%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently modified their holdings of BMY. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $27,000. Accordant Advisory Group Inc purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $34,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.