Bristol-Myers Squibb Plans Quarterly Dividend of $0.60 (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) declared a quarterly dividend on Tuesday, September 10th, RTT News reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.60 per share by the biopharmaceutical company on Friday, November 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.87%.

Bristol-Myers Squibb has decreased its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Bristol-Myers Squibb has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bristol-Myers Squibb to earn $7.09 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 33.9%.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of BMY traded up $0.78 on Tuesday, hitting $49.28. 8,624,454 shares of the stock traded hands, compared to its average volume of 15,237,221. The company has a market capitalization of $99.91 billion, a PE ratio of -15.72, a P/E/G ratio of 12.62 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The business has a 50 day simple moving average of $46.09 and a 200 day simple moving average of $46.53. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.42.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BMY shares. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price target 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. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.67.

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.