Bristol-Myers Squibb (NYSE:BMY) Forecasted to Earn Q3 2024 Earnings of $1.70 Per Share

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at Leerink Partnrs issued their Q3 2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a report issued on Wednesday, April 10th. Leerink Partnrs analyst D. Risinger forecasts that the biopharmaceutical company will post earnings per share of $1.70 for the quarter. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s Q4 2024 earnings at $1.67 EPS, FY2024 earnings at $6.70 EPS, FY2025 earnings at $6.78 EPS, FY2026 earnings at $6.39 EPS, FY2027 earnings at $6.71 EPS and FY2028 earnings at $6.40 EPS.

Other research analysts also recently issued research reports about the company. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Wells Fargo & Company lowered their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Trading Down 2.3 %

Bristol-Myers Squibb stock opened at $49.12 on Friday. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The business’s fifty day moving average is $51.29 and its 200 day moving average is $51.92. 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 capitalization of $99.55 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.54 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the firm posted $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% compared to the same quarter last year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several institutional investors have recently added to or reduced their stakes in BMY. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $26,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $27,000. Northwest Financial Advisors purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Bristol-Myers Squibb during the 2nd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders 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 yield of 4.89%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 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.