Brokers Issue Forecasts for Bristol-Myers Squibb’s Q2 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at Zacks Research cut their Q2 2024 earnings estimates for shares of Bristol-Myers Squibb in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst E. Bagri now expects that the biopharmaceutical company will post earnings of $1.77 per share for the quarter, down from their previous forecast of $1.83. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. Zacks Research also issued estimates for Bristol-Myers Squibb’s Q4 2024 earnings at $1.71 EPS.

BMY has been the subject of several other research reports. BMO Capital Markets lowered their price target 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. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of NYSE:BMY opened at $44.86 on Thursday. Bristol-Myers Squibb has a one year low of $44.34 and a one year high of $69.10. The company has a 50 day moving average of $51.03 and a 200-day moving average of $51.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market cap of $90.92 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 1.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Institutional Trading of Bristol-Myers Squibb

A number of institutional investors have recently made changes to their positions in BMY. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb in the third quarter worth $25,000. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth $27,000. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $27,000. Blue Bell Private Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in Bristol-Myers Squibb during the first quarter worth $31,000. 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.