Bristol-Myers Squibb to Post Q1 2024 Earnings of $1.51 Per Share, William Blair Forecasts (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – William Blair decreased their Q1 2024 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a report released on Wednesday, April 17th. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings of $1.51 per share for the quarter, down from their prior forecast of $1.64. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share.

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, topping 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 the consensus estimate of $11.19 billion. During the same period last year, the business posted $1.82 EPS. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis.

Other equities analysts also recently issued reports about the stock. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of NYSE BMY opened at $48.93 on Friday. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. The business has a fifty day moving average price of $51.23 and a 200 day moving average price of $51.51. The stock has a market capitalization of $99.17 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System raised its stake in shares of Bristol-Myers Squibb by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 159,870 shares of the biopharmaceutical company’s stock valued at $8,670,000 after buying an additional 1,354 shares during the last quarter. Marshall Financial Group LLC grew its stake in shares of Bristol-Myers Squibb by 8.1% during the 1st quarter. Marshall Financial Group LLC now owns 28,437 shares of the biopharmaceutical company’s stock worth $1,542,000 after purchasing an additional 2,124 shares during the period. FCG Investment Co purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $445,000. New Century Financial Group LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $1,135,000. Finally, Tempus Wealth Planning LLC boosted its holdings in Bristol-Myers Squibb by 190.2% during the first quarter. Tempus Wealth Planning LLC now owns 11,318 shares of the biopharmaceutical company’s stock worth $614,000 after buying an additional 7,418 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.90%. Bristol-Myers Squibb’s payout ratio is currently 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.