Zacks Research Weighs in on Bristol-Myers Squibb's Q3 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Equities research analysts at Zacks Research decreased their Q3 2024 EPS estimates for Bristol-Myers Squibb in a research report issued on Tuesday, April 23rd. Zacks Research analyst E. Bagri now expects that the biopharmaceutical company will earn $1.67 per share for the quarter, down from their prior estimate of $1.73. 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 Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.74 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at $1.55 EPS, FY2025 earnings at $6.67 EPS, Q1 2026 earnings at $1.50 EPS and FY2026 earnings at $6.21 EPS.

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 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 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 business posted $1.82 earnings per share. Bristol-Myers Squibb's revenue was up .6% compared to the same quarter last year.

BMY has been the topic of a number of other reports. Redburn Atlantic cut shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, April 18th. Societe Generale lowered shares of Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Bank of America lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. 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 stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of "Hold" and an average price target of $61.18.

Bristol-Myers Squibb Trading Down 0.3 %

Shares of NYSE BMY traded down $0.13 during midday trading on Wednesday, reaching $48.86. 16,032,367 shares of the stock were exchanged, compared to its average volume of 15,532,586. The business has a 50-day simple moving average of $51.22 and a two-hundred day simple moving average of $51.31. The company has a market capitalization of $99.03 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $70.93. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.91%. Bristol-Myers Squibb's dividend payout ratio is presently 62.18%.

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $25,000. Milestone Investment Advisors LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $27,000. Blue Bell Private Wealth Management LLC boosted its holdings in Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 200 shares during the period. Finally, Accordant Advisory Group Inc bought a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $31,000. Institutional investors 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.