Bristol-Myers Squibb (NYSE:BMY) Issues Quarterly Earnings Results

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13, Briefing.com reports. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.87 billion for the quarter, compared to analysts' expectations of $11.45 billion. During the same quarter last year, the company posted $2.05 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Bristol-Myers Squibb updated its FY 2024 guidance to 0.400-0.700 EPS and its FY24 guidance to $0.40-0.70 EPS.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded down $4.18 during trading hours on Thursday, reaching $44.68. The stock had a trading volume of 45,047,382 shares, compared to its average volume of 15,901,512. The stock's fifty day simple moving average is $51.13 and its 200 day simple moving average is $51.26. The firm has a market capitalization of $90.56 billion, a PE ratio of 11.58, a PEG ratio of 1.48 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12 month low of $44.37 and a 12 month high of $69.74.

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 given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.37%. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently 62.18%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Societe Generale cut Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Monday, March 11th. StockNews.com downgraded shares of Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Monday, April 15th. Wells Fargo & Company upped 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 research note on Thursday, April 18th. Bank of America cut shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their price target for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and cut their target price for the stock 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 given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.18.

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.