Bristol-Myers Squibb (NYSE:BMY) Releases FY24 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.40-0.70 for the period, compared to the consensus EPS estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday, April 15th. Wells Fargo & Company raised their price target 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. Redburn Atlantic cut shares of 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 report on Tuesday, February 6th. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Societe Generale cut shares of Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $61.18.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $48.86 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $70.93. The company has a 50 day simple moving average of $51.22 and a two-hundred day simple moving average of $51.31. The stock has a market cap of $99.03 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.48 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.50) by $0.10. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 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.