Bristol-Myers Squibb (NYSE:BMY) to Post FY2024 Earnings of $6.27 Per Share, William Blair Forecasts

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at William Blair cut their FY2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a report released on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $6.27 per share for the year, down from their prior forecast of $6.39. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. William Blair also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $7.20 EPS.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share.

A number of other research analysts have also recently issued reports on the company. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Stock Up 1.3 %

Shares of NYSE:BMY opened at $48.93 on Thursday. The stock’s 50-day moving average price is $51.23 and its 200-day moving average price is $51.51. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93. The stock has a market capitalization of $99.17 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of the stock. OFI Invest Asset Management bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $25,000. True Wealth Design LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $26,000. Milestone Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $28,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

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.