Bristol-Myers Squibb Expected to Earn Q2 2024 Earnings of $1.76 Per Share (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at Leerink Partnrs lowered their Q2 2024 EPS estimates for shares of Bristol-Myers Squibb in a report issued on Thursday, April 25th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will post earnings per share of $1.76 for the quarter, down from their prior forecast of $1.80. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.58 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s Q3 2024 earnings at $1.69 EPS, Q4 2024 earnings at $1.57 EPS and FY2027 earnings at $6.23 EPS.

Other equities analysts have also issued research reports about the stock. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Barclays lowered their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday. Bank of America downgraded shares of 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. Finally, Wells Fargo & Company increased their price target 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, April 18th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Trading Up 0.3 %

Shares of BMY stock opened at $44.85 on Monday. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10. The company has a market capitalization of $90.90 billion, a price-to-earnings ratio of -14.47, a PEG ratio of 16.31 and a beta of 0.39. The firm has a 50-day moving average price of $51.03 and a 200 day moving average price of $51.10. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter last year, the business posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.35%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMY. Norges Bank acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $1,560,524,000. Van ECK Associates Corp raised its position in shares of Bristol-Myers Squibb by 792.6% in the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after purchasing an additional 3,579,324 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after buying an additional 2,998,228 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Bristol-Myers Squibb by 36.7% in the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after buying an additional 2,510,134 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.