Analysts Issue Forecasts for Bristol-Myers Squibb Company’s FY2018 Earnings (BMY)

Bristol-Myers Squibb Company (NYSE:BMY) – Research analysts at SunTrust Banks lifted their FY2018 earnings estimates for shares of Bristol-Myers Squibb in a research note issued to investors on Monday. SunTrust Banks analyst J. Boris now expects that the biopharmaceutical company will post earnings per share of $3.54 for the year, up from their prior forecast of $3.19. SunTrust Banks has a “Buy” rating on the stock.

Several other equities analysts have also commented on the stock. Hilliard Lyons lowered shares of Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $65.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Thursday, September 7th. Barclays PLC increased their price target on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Jefferies Group LLC raised their target price on shares of Bristol-Myers Squibb from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Finally, Piper Jaffray Companies set a $60.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.93.

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Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were issued a $0.39 dividend. The ex-dividend date was Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.53%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 61.42%.

In other news, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in shares of Bristol-Myers Squibb by 10.7% during the second quarter. First Trust Advisors LP now owns 433,050 shares of the biopharmaceutical company’s stock valued at $24,130,000 after purchasing an additional 41,892 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Bristol-Myers Squibb by 54.0% during the first quarter. Toronto Dominion Bank now owns 464,591 shares of the biopharmaceutical company’s stock valued at $25,264,000 after purchasing an additional 162,884 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 1.9% during the first quarter. Mutual of America Capital Management LLC now owns 201,037 shares of the biopharmaceutical company’s stock valued at $10,932,000 after purchasing an additional 3,833 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at $6,150,000. Finally, Meridian Management Co. lifted its holdings in shares of Bristol-Myers Squibb by 1.5% during the first quarter. Meridian Management Co. now owns 51,770 shares of the biopharmaceutical company’s stock valued at $2,815,000 after purchasing an additional 770 shares during the last quarter. 68.93% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

Earnings History and Estimates for Bristol-Myers Squibb (NYSE:BMY)

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