Bristol-Myers Squibb (NYSE:BMY) Releases FY 2024 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.600-0.900 for the period, compared to the consensus earnings per share estimate of 0.510. The company issued revenue guidance of -. Bristol-Myers Squibb also updated its FY24 guidance to $0.60-0.90 EPS.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating for the company in a research report on Tuesday. BMO Capital Markets reduced their price objective on 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 reiterated a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com lowered Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research report on Thursday, June 27th. Finally, Barclays dropped their price objective on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of Hold and a consensus target price of $57.73.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $45.27 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The firm has a market cap of $91.77 billion, a price-to-earnings ratio of -14.60, a PEG ratio of 16.73 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.89. The stock has a 50 day moving average of $41.63 and a 200-day moving average of $46.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.40. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts forecast that Bristol-Myers Squibb will post 0.53 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.30%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.