Bristol-Myers Squibb (NYSE:BMY) Releases FY24 Earnings Guidance

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.40-0.70 for the period, compared to the consensus estimate of $0.65. Bristol-Myers Squibb also updated its FY 2024 guidance to 0.400-0.700 EPS.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $4.18 during midday trading 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 has a 50-day moving average of $51.22 and a 200-day moving average of $51.31. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The company has a market capitalization of $90.56 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $44.37 and a 12-month high of $69.74.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.87 billion during the quarter, compared to analysts' expectations of $11.45 billion. During the same period in the prior year, the company posted $2.05 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

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 issued 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 presently 62.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company lifted their price target 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. Societe Generale cut shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, March 11th. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $61.18.

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.