Bristol Myers Squibb Company Declares Quarterly Dividend of $0.63 (NYSE:BMY)

Key Points

• Bristol Myers Squibb declared a quarterly dividend of $0.63 per share, payable November 2 to shareholders of record October 2. The annualized dividend is $2.52, representing a yield of approximately 4.0%.
• The dividend appears well covered, with a 41.5% payout ratio, and the company has increased its dividend for 17 consecutive years. Analysts expect next year’s earnings to cover the projected $2.52 annual dividend at a 39.1% payout ratio.
• Bristol Myers Squibb exceeded quarterly earnings and revenue expectations, reporting EPS of $2.04 and revenue of $12.97 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $66.72.

Bristol Myers Squibb Company (NYSE:BMY - Get Free Report) declared a quarterly dividend on Wednesday, September 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of 0.63 per share by the biopharmaceutical company on Monday, November 2nd. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 2nd.

Bristol Myers Squibb has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 17 years. Bristol Myers Squibb has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bristol Myers Squibb to earn $6.44 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 39.1%.

Bristol Myers Squibb Trading Down 0.3%

BMY stock traded down $0.18 during midday trading on Wednesday, reaching $63.55. The company's stock had a trading volume of 9,448,703 shares, compared to its average volume of 11,790,750. Bristol Myers Squibb has a 1 year low of $42.52 and a 1 year high of $68.64. The firm has a market capitalization of $129.80 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.31 and a beta of 0.23. The stock has a fifty day simple moving average of $63.87 and a two-hundred day simple moving average of $60.10. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.44. The firm had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The business's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities research analysts predict that Bristol Myers Squibb will post 6.95 EPS for the current year.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. Truist Financial restated a "buy" rating and issued a $70.00 target price (up from $65.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Piper Sandler reissued an "overweight" rating and issued a $82.00 price objective (up from $75.00) on shares of Bristol Myers Squibb in a research note on Wednesday. HSBC restated a "hold" rating and set a $65.00 price objective (up from $60.00) on shares of Bristol Myers Squibb in a report on Thursday, September 10th. UBS Group downgraded Bristol Myers Squibb from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 5th. Finally, BMO Capital Markets restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $66.72.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.

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