Q2 2024 EPS Estimates for Bristol-Myers Squibb Decreased by Zacks Research (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Equities researchers at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued to investors on Thursday, May 9th. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will post earnings of $1.63 per share for the quarter, down from their previous forecast of $1.77. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $0.59 per share. Zacks Research also issued estimates for Bristol-Myers Squibb's Q3 2024 earnings at $1.64 EPS, Q4 2024 earnings at $1.69 EPS, Q3 2025 earnings at $1.62 EPS and FY2026 earnings at $6.20 EPS.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis.

Several other equities analysts also recently issued reports on BMY. StockNews.com downgraded Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 15th. Redburn Atlantic lowered Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Barclays lowered their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, April 18th. Finally, William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.4 %

NYSE BMY traded up $0.20 during trading on Friday, hitting $44.94. The company's stock had a trading volume of 8,616,072 shares, compared to its average volume of 15,609,296. The company has a market cap of $91.10 billion, a PE ratio of -14.45, a P/E/G ratio of 14.82 and a beta of 0.45. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The business's 50 day simple moving average is $49.84 and its 200-day simple moving average is $50.39. Bristol-Myers Squibb has a fifty-two week low of $43.33 and a fifty-two week high of $69.10.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.34%. Bristol-Myers Squibb's payout ratio is currently -77.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BMY. OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Milestone Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at about $27,000. Northwest Financial Advisors purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

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.