Research Analysts Issue Forecasts for Bristol-Myers Squibb's Q3 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Research analysts at Leerink Partnrs issued their Q3 2024 EPS estimates for shares of Bristol-Myers Squibb in a note issued to investors on Wednesday, April 10th. Leerink Partnrs analyst D. Risinger forecasts that the biopharmaceutical company will post earnings of $1.70 per share for the quarter. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $4.88 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb's Q4 2024 earnings at $1.67 EPS, FY2024 earnings at $6.70 EPS, FY2025 earnings at $6.78 EPS, FY2026 earnings at $6.39 EPS, FY2027 earnings at $6.71 EPS and FY2028 earnings at $6.40 EPS.

Other analysts have also recently issued reports about the stock. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Bank of America cut shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company decreased their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 6th. StockNews.com raised shares of Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Friday, March 1st. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of "Hold" and a consensus price target of $61.12.

Bristol-Myers Squibb Trading Down 1.7 %

Shares of NYSE BMY traded down $0.84 during trading on Friday, hitting $48.28. 12,455,118 shares of the company traded hands, compared to its average volume of 16,015,178. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The company has a 50-day moving average price of $51.29 and a 200-day moving average price of $51.92. The firm has a market capitalization of $97.85 billion, a P/E ratio of 12.66, a P/E/G ratio of 2.06 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion during the quarter, compared to analysts' expectations of $11.19 billion. During the same period in the previous year, the company earned $1.82 EPS. The business's quarterly revenue was up .6% compared to the same quarter last year.

Bristol-Myers Squibb Announces Dividend

The firm 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 of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.97%. Bristol-Myers Squibb's dividend payout ratio (DPR) is 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of BMY. Dakota Wealth Management acquired a new stake in Bristol-Myers Squibb during the first quarter worth about $332,000. Covestor Ltd boosted its holdings in shares of Bristol-Myers Squibb by 111.5% in the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company's stock valued at $150,000 after acquiring an additional 1,082 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company's stock valued at $12,075,000 after acquiring an additional 57,444 shares in the last quarter. Ergoteles LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company's stock valued at $24,725,000 after acquiring an additional 68,018 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

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.