Bristol-Myers Squibb (NYSE:BMY) Releases Earnings Results, Beats Expectations By $0.13 EPS

Bristol-Myers Squibb (NYSE:BMY) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13, Briefing.com reports. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the prior year, the company posted $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. Bristol-Myers Squibb updated its FY 2024 guidance to 0.400-0.700 EPS and its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Trading Down 8.6 %

NYSE:BMY opened at $44.68 on Friday. The stock has a market capitalization of $90.56 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 52 week low of $44.37 and a 52 week high of $69.74. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $51.13 and a 200 day moving average of $51.26.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.37%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.18.

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.