Zacks Research Weighs in on Bristol-Myers Squibb’s Q2 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Stock analysts at Zacks Research reduced their Q2 2024 EPS estimates for Bristol-Myers Squibb in a research report issued on Tuesday, April 23rd. Zacks Research analyst E. Bagri now forecasts that the biopharmaceutical company will post earnings per share of $1.77 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.

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

BMY has been the subject of several other reports. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. BMO Capital Markets cut their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Up 0.4 %

BMY stock opened at $44.86 on Thursday. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10. The firm has a market cap of $90.92 billion, a PE ratio of 11.62, a P/E/G ratio of 1.47 and a beta of 0.39. The firm has a 50 day simple moving average of $51.03 and a 200 day simple 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.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BMY. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $27,000. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC increased its stake in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth $31,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.35%. 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.