Bristol-Myers Squibb (BMY) Set to Announce Earnings on Thursday

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) is scheduled to be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of ($4.47) per share for the quarter. Bristol-Myers Squibb has set its FY 2024 guidance at 7.100-7.400 EPS and its FY24 guidance at $7.10-7.40 EPS.Investors that wish to register for the company's conference call can do so using this link.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. On average, analysts expect Bristol-Myers Squibb to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded up $0.46 during mid-day trading on Thursday, reaching $48.30. 10,916,642 shares of the company's stock were exchanged, compared to its average volume of 15,781,828. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market capitalization of $97.89 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.49 and a beta of 0.39. The business's fifty day simple moving average is $51.26 and its 200-day simple moving average is $51.59. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.97%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 62.18%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMY. Redburn Atlantic downgraded Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale downgraded Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Bank of America downgraded 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 report on Wednesday, January 3rd. StockNews.com downgraded Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Monday. Finally, Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $61.18.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $1,873,696,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company's stock valued at $1,544,751,000 after purchasing an additional 21,451,006 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Bristol-Myers Squibb by 16.6% in the 4th quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company's stock valued at $1,016,502,000 after purchasing an additional 2,814,746 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bristol-Myers Squibb by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,005,473 shares of the biopharmaceutical company's stock worth $803,730,000 after acquiring an additional 197,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Bristol-Myers Squibb by 21.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,397,454 shares of the biopharmaceutical company's stock worth $532,246,000 after acquiring an additional 1,311,960 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.