Bristol-Myers Squibb (NYSE:BMY) Forecasted to Post Q3 2024 Earnings of $1.66 Per Share

Bristol-Myers Squibb (NYSE:BMY) – Analysts at Leerink Partnrs boosted their Q3 2024 earnings per share estimates for shares of Bristol-Myers Squibb in a research note issued on Monday, July 29th. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings of $1.66 per share for the quarter, up from their prior estimate of $1.65. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.78 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2024 earnings at $0.85 EPS, FY2025 earnings at $7.10 EPS, FY2026 earnings at $6.33 EPS, FY2027 earnings at $6.79 EPS and FY2028 earnings at $6.24 EPS.

Several other research analysts also recently issued reports on BMY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. BMO Capital Markets dropped their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target on the stock. in a report on Monday. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.79.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $48.17 on Wednesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. The company has a market cap of $97.66 billion, a price-to-earnings ratio of -15.54, a PEG ratio of 12.58 and a beta of 0.44. The firm has a 50 day simple moving average of $42.24 and a 200 day simple moving average of $46.76.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.98%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently made changes to their positions in BMY. PFG Advisors boosted its stake in Bristol-Myers Squibb by 6.1% during the fourth quarter. PFG Advisors now owns 5,649 shares of the biopharmaceutical company’s stock worth $290,000 after acquiring an additional 323 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Bristol-Myers Squibb by 787.9% in the 4th quarter. First Citizens Bank & Trust Co. now owns 81,973 shares of the biopharmaceutical company’s stock worth $4,206,000 after buying an additional 72,741 shares during the last quarter. Colonial River Wealth Management LLC boosted its position in Bristol-Myers Squibb by 17.0% in the fourth quarter. Colonial River Wealth Management LLC now owns 8,981 shares of the biopharmaceutical company’s stock worth $461,000 after purchasing an additional 1,308 shares during the last quarter. Trust Point Inc. bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $904,000. Finally, Richard W. Paul & Associates LLC increased its stake in shares of Bristol-Myers Squibb by 50.8% during the 4th quarter. Richard W. Paul & Associates LLC now owns 11,791 shares of the biopharmaceutical company’s stock worth $605,000 after purchasing an additional 3,973 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

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.