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

Bristol-Myers Squibb (NYSE:BMY) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.400-0.700 for the period, compared to the consensus estimate of 0.650. The company issued revenue guidance of -. Bristol-Myers Squibb also updated its FY24 guidance to $0.40-0.70 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on BMY shares. Redburn Atlantic lowered Bristol-Myers Squibb from a buy rating to a neutral rating and lowered their price target for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a report on Thursday, April 18th. BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research report on Friday. Bank of America cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their target price for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, William Blair reiterated a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $44.85 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm’s 50 day simple moving average is $51.03 and its 200 day simple moving average is $51.14. Bristol-Myers Squibb has a 1 year low of $44.34 and a 1 year high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the business posted $2.05 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb Company Profile

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.