FY2024 EPS Estimates for Bristol-Myers Squibb Decreased by Analyst (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Stock analysts at William Blair lowered their FY2024 earnings per share estimates for shares of Bristol-Myers Squibb in a report issued on Wednesday, April 17th. William Blair analyst M. Phipps now expects that the biopharmaceutical company will earn $6.27 per share for the year, down from their previous forecast of $6.39. William Blair currently has a "Market Perform" rating on the stock. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $6.47 per share. William Blair also issued estimates for Bristol-Myers Squibb's FY2025 earnings at $7.20 EPS.

Other research analysts have also recently issued research reports about 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. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday. StockNews.com downgraded Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Monday. Bank of America cut Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, Redburn Atlantic downgraded 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 report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $61.18.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.46 during trading on Thursday, reaching $48.30. 10,908,240 shares of the company's stock were exchanged, compared to its average volume of 15,781,828. The company's fifty day simple moving average is $51.25 and its 200-day simple moving average is $51.57. The stock has a market capitalization of $97.89 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.49 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93.

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 for the quarter, beating analysts' consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The company's revenue was up .6% on a year-over-year basis.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $25,000. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $26,000. Milestone Investment Advisors LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at about $27,000. Northwest Financial Advisors acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $27,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Bristol-Myers Squibb in the 2nd quarter worth approximately $28,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Announces Dividend

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 issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb's payout ratio is 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.