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

Bristol-Myers Squibb (NYSE:BMY) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 0.600-0.900 for the period, compared to the consensus EPS 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 Analyst Weigh In

A number of brokerages have recently commented on BMY. StockNews.com lowered Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating on the stock in a research report on Tuesday. Cantor Fitzgerald reaffirmed a neutral rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. BMO Capital Markets lowered their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating on the stock in a research report on Friday, April 26th. Finally, Barclays lowered their price target on 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 analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of Hold and an average price target of $57.73.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $5.18 during trading on Friday, hitting $50.45. The company had a trading volume of 36,636,434 shares, compared to its average volume of 15,289,099. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The firm has a market capitalization of $102.27 billion, a P/E ratio of -16.26, a price-to-earnings-growth ratio of 17.07 and a beta of 0.44. The stock’s 50-day moving average price is $41.76 and its 200 day moving average price is $46.82. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 0.53 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s payout ratio 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.